Today’s day and age, the ocbc credit card is one of the most valuable tool you can have for most of your financial transaction. It can serve as your tool for other financial strategies. Credit cards have been around for decades and have helped millions of people with efficiency and convenience in spending. But with all else being balanced, it has also been a cause for some to get themselves deep in debt.
Properly managing a credit card should always be done to ensure that a holder doesn’t start sinking into debt. If it is your first time to get your credit card, here are three things you need to consider to ensure that you manage your card well.
- Get a credit limit which you can pay in full.
Always make sure that you have your credit limit covered in case you max out your card. The default would be at least 10 percent of your income would be your maximum credit limit. This allows you to have the chance to pay off your entire debt when you need to and you don’t have to worry of finding other sources of income to pay it off.
- Have a mindset of convenience.
You will need to have a mindset that a credit card is for efficiency and convenience not a replacement for cash. Credit cards are only substitute for cash in case you don’t have enough cash with you. Just make sure that the purchase price of what you are buying is something you can pay off even without a credit card.
- Look for credit card that is applicable to your lifestyle.
Make sure that you look through and compare the credit cards being offered. Know which credit card can benefit you most. Credit card issuers often create packages and offers on the credit card they are issuing. It can offer promotions for miles, if you are the kind who travels a lot. It can be for gasoline and auto part rebates, if you are a car enthusiast. There are several cards that can fit your needs and lifestyle.