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When you are smart about credit it really does pay off.

I’ve always been smart with my credit cards. I don’t just get every card offer that comes in the mail. I review them and decide if it’s really worth it or not. Most end up in the shredder. Very few make it to my wallet.

I have good credit for a reason — I pay my bills on time and am aware of what I charge.

My first credit card was a Macy’s card. It was the only one at the time that would issue me a card and I used to shop there so it was a win, win. Now, I’ve never been one to like ATM cards or checks for that matter. Both are the least secure in terms of payments in my opinion. Plus, it’s never made sense to me to leave money on the table. ATM cards and checks don’t give you rewards. If you are going to spend the money why not get a little something back in return?

So, credit cards are my preferred choice of paying for everything! Here’s my why and how.

As I mentioned, debit cards and checks weren’t, and still aren’t, my thing. Not to mention having to keep track of every purchase to balance the checkbook – no thank you. I like making my one main payment at the end of the month to my credit card bill.

[bctt tweet=”Small business credit card advice on how to win at the credit card game” username=”Ed_Troxell”]

So how do I keep myself from splurging and racking up the debt?

First off, we all splurge and will buy more crap than we actually need when paying with a credit card vs paying with cash. I mean, cash is an exact amount and when you’re over budget, you’re cut off.

A credit card makes it easier to get what you want when you want it which makes it easy to rack up that debt. The only way to stay on top of your spending is being constantly aware of what you are spending and what you are making.

1. Make it a daily habit (weekly at most) to check your credit card balance(s)

2. Check your bank account balance(s) and compare with your credit card balance(s)

3. Review your expenses and ask yourself “do I really needs and if so, why?” Yes, we all slip occasionally (moving forward now that you know how to handle your credit). The point is though to be aware.

Being aware is the first, and major, step in helping you stay out of debt.

Quick recap, I hate ATM cards and checks (unless you’re sending me a check and then it’s ok), but I love credit cards.

Making sure you’re still in control of managing your debt means you are constantly watching your expenses and income — daily or weekly at most. My philosophy is if you have to spend the money why not get a little something extra back (reward points)? Credit cards are preferred and if you use them wisely they will work in your favor. Ok so we are all caught up. 

[bctt tweet=”A good credit score leads to greater rewards later.” username=”Ed_Troxell”]
Review card offers from time to time just to stay up on the ones that may benefit you later. Wait for large purchases to apply for those 0% interest cards.

Remember, when you pay your bills on time and avoid those late fees your credit score goes up! Be sure to read up on the 7 BIGGEST credit card mistakes too!