Financial blog, Personal Finance and loans Blog

I have several credit cards with me, but I am wise enough not to use them except under unmanageable emergencies. The sooner I am out of the emergency, I try to apply for some other personal loan and repay this total outstanding before the billing cycle or at least before the next billing cycle.By doing this, I keep my credit cards always full of money to fund me when I need, and I build my credit score too. I try to purchase all the groceries and garments with my own money. I never purchase it with my credit cards. Even if I do so, I repay the amount in full within a week or before the bill is generated. By doing this, I am able to make best use if the revolving credit facility.

I never give away my credit cards to even my closest friend. It is not that I do not trust my friend I just do not want to tempt my friends or anyone to misuse my verification code.

I am successful because I am aware credit cards are not my money. It is a pre-approved loan, which I can judiciously use for emergency. Using it for merriment is unwise.