{"id":214,"date":"2022-04-11T05:00:31","date_gmt":"2022-04-11T12:00:31","guid":{"rendered":"https:\/\/www.speedycash.ca\/using-credit-cards-wisely\/"},"modified":"2025-08-05T19:10:50","modified_gmt":"2025-08-05T19:10:50","slug":"using-credit-cards-wisely","status":"publish","type":"post","link":"https:\/\/www.speedycash.ca\/blog\/using-credit-cards-wisely\/","title":{"rendered":"Using Credit Cards Wisely"},"content":{"rendered":"\n
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<\/i>Financial Tips<\/span><\/a><\/div>\n\n

Using Credit Cards Wisely<\/h1>\n\n
\"Speedy<\/figure><\/div>\n<\/div>\n<\/header>\n\n\n\n
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How Can I Use a Credit Card Wisely?<\/h2>\n\n\n\n

There\u2019s a lot of responsibility that comes with owning a credit card. On one hand, those handy plastic cards make spending more convenient. On the other hand, they can lead to serious overspending. They can help you build credit<\/a> fast. Or, they can blow your credit score. Ultimately, the outcome of owning a credit card is solely up to you. So, follow these simple tips to use your credit cards wisely:<\/p>\n\n\n\n

Pay On Time Every Month<\/h3>\n\n\n\n

Your credit card payment history makes up 35% of your credit score<\/a>. And your credit score affects your ability to do things like take out a loan, get a low-interest rate, rent an apartment, get a job and a whole lot more. Plus, late payments incur late fees, which then increases the amount of money you owe. The bottom line? Pay on time. Every time.<\/p>\n\n\n\n

Pay In Full When You Can<\/h3>\n\n\n\n

It\u2019s great to make your payments on time. It\u2019s even better to pay off your credit card debt. Here are two great reasons to pay your debt in full when you can. First, you avoid incurring interest charges on your purchases. Second, you build credit fast. And those two reasons lead to the best benefit of all: the peace of mind that comes from being credit card debt-free.<\/p>\n\n\n\n

Maximize Your Rewards<\/h3>\n\n\n\n

Aside from building credit, (which is the main reason to use a credit card wisely,) credit cards offer you a range of benefits that can improve your life. From cash back to shopping discounts to travel points, credit card rewards run the gamut. Make sure to use the cards that give you the biggest bang for your buck<\/a>. Pick the one with the most cash back. Or choose the card that earns you the most miles. Then, get rid of the rest.<\/p>\n\n\n\n

Use the 20\/10 Rule<\/h3>\n\n\n\n

Follow these steps to protect yourself from spiralling debt:<\/p>\n\n\n\n