Managing credit cards effectively can help you build good credit and save money on interest and fees. One tip is to always pay your credit card bills on time, as late payments can result in late fees and a negative impact on your credit score. It's also important to keep your credit utilization low by not maxing out your credit cards. This means using less than 30% of your credit limit at any given time. It's a good idea to be mindful of how many credit card accounts you open, as each application can result in a hard inquiry on your credit report, which can temporarily lower your score. Using your credit card for purchases that you can afford to pay off in full each month can help you avoid carrying a balance and accruing interest. It's also important to be aware of any fees and interest rates associated with your credit cards, such as annual fees, balance transfer fees, and foreign transaction fees. Finally, make sure to keep track of your credit card statements and spending to identify any fraudulent charges and ensure that you're not overspending.
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This is so insightful👍🏽