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Paying Off Your Credit-Card Balance on Time and in Full Can Help You Build Better Credit for Yourself
American Express ConsumerFeature
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READER SCRIPT
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A CREDIT CARD IS AN IMPORTANT FINANCIAL TOOL THAT LETS YOU BUY NOW, WITH THE PROMISE THAT YOU'LL PAY LATER. IT'S BOTH AN EASY WAY TO CARRY MONEY, AND A GOOD WAY TO PAY FOR LARGER EXPENDITURES, OVER TIME. CREDIT CARDS CAN BE A GREAT RESOURCE IN AN EMERGENCY, HELP BUILD YOUR CREDIT HISTORY, AND HELP YOU MANAGE YOUR MONEY. HOWEVER, LIKE ANY TOOL, YOU NEED TO UNDERSTAND HOW IT WORKS--AND HOW TO USE IT RESPONSIBLY. ACCORDING TO AMERICAN EXPRESS, THE FIRST THING TO REMEMBER IS THAT YOU SHOULD TAKE THE TIME TO FULLY UNDERSTAND YOUR TERMS AND CONDITIONS. IN ORDER TO AVOID LATE FEES AND INCREASED INTEREST RATES, MAKE SURE THAT YOU PAY YOUR BILL, ON TIME, EVERY MONTH. ALSO, LOOK FOR A CREDIT CARD THAT LETS YOU MAKE YOUR PAYMENTS ELECTRONICALLY--OR BY PHONE--FREE OF CHARGE. TRY TO PAY OFF YOUR BALANCE MORE QUICKLY--AND TO REDUCE INTEREST CHARGES, BY PAYING MORE THAN THE MINIMUM DUE. IN ORDER TO AVOID ADDITIONAL CHARGES OR FEES, KNOW YOUR CREDIT LIMIT--AND DON'T GO OVER IT. YOU SHOULD ALSO TAKE ADVANTAGE OF FREE ALERTS--LIKE PAYMENT REMINDERS--BY E-MAIL OR PHONE; THIS WILL PROVE VERY HELPFUL, WHEN MANAGING YOUR ACCOUNTS. FOR MORE TIPS ON BEING SMART ABOUT CREDIT, VISIT W-W-W-DOT-"AMERICAN-EXPRESS"-DOT-COM-SLASH-"CONSUMER-RESOURCES".
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