While dining out recently I overheard the conversation at a nearby table turn to credit card use. One diner, a young woman in mid 20s was talking about a friend who used credit cards mainly to get the reward points and could not afford to pay off the balance in full each month. She had tried telling him it was a bad idea to do this unless you had the money to pay it off or knew you would be getting the money soon. Another diner agreed that you should only use your credit card if you could afford to pay it off after the grace period.

Credit cards may be a convenient way to make purchases but it is important to keep in mind what your balances are and if you are able to pay the balances in full to avoid interest charges which may minus out any rewards you may have received.

If you do have credit card debt you may be considering transferring your balances to a credit card with a lower interest rate. There are some things to consider before transferring your balances.

Here is a recent article I wrote about Reasons not to Transfer credit card balances to other cards

Following are some other articles I have written about using credit cards.

Save money with good credit

Reasons to stop using credit cards

Why credit cards are a slippery slope to heavy debt

Pros and Cons to living debt free

Advice on using credit cards

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