In today’s society, it is almost imperative to have at least one credit card account. It is very important however that Americans need to utilize these charge card accounts in the right way so that the use of these cards doesn’t harm credit reports. There are quite a few ways charge card accounts will damage credit scores so I am going to give you the most important things to remember:

1. You shouldn’t ever spend over 50% of the credit line that has been extended to you. This type of use gives the impression that you are a high risk consumer. Even though you pay off the balance each month this use still poses a risk to the bank and it may effect your credit negatively. However, if you keep your balance below 50% of the credit line, this will affect your credit report in a positive way because it will show the creditors that you are using your credit card accounts responsibly and this will definately help you to keep a good credit report!

2. You should only utilize charge card accounts for purchasing products that you can afford out of pocket. I know what you are thinking “why do you want to utilize a credit card account if you are able to afford the product cash?”. This is the type of use that credit cards were designed for. Credit cards were not designed as a financial pillow they were designed for safety and convenience so the consumer didn’t have to go out with large amounts of cash on them. Using charge cards as a financial crutch can only lead to one thing, an aboundance of credit card debt.

3. You shouldn’t ever send in only your minimum payment required. If at all possible, you actually want to pay double or tripple payments. This will show the credit card companies that you are not using the credit card accounts to survive. This will show the credit card companies that you are utilizing your charge card accounts in the way that they were intended for use.

4. Finally when using charge card accounts, use common sence. I know this may seem stupid for me to say but, when working with a tool that can designate your financial stability in the future it is very important that you use common sense. You know think of things like “if you cannot afford it, then don’t buy it”.

Also, if you are going to get a credit card I advise Discover card

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