One of the keys to maintaining a good balance on a St. George credit card or any credit card is to track what you spend. With a credit card it is easy to feel like it is “free money” but that is not the case. Almost anything that you put onto a credit card will cost you more than what the ticketed price at the store says you paid due to interest and finance charges. However, there are a few simple steps that can be taken to keep credit card balances low and manageable.

Keep a Close Eye on Your Statements

Rule number one to managing the credit line of any card is to watch the statements. Make sure you are not spending money on things you could do without just because you have money on the credit card. It is also important to make sure the St. George credit card is not charging you more than what you bought at a store. Sometimes a credit card company will charge things twice by accident, so it is important to catch those mistakes early. Keeping an eye on the statements will also help you catch identity thieves if it ever happens.

Pay for Things with Cash Whenever Possible

Another key to managing a credit line is to use cash rather than the credit card. If you don’t have to put your gas on a credit card, then don’t. Your St. George credit card should be used for emergencies and occasional large purchases only. There is no reason to put your two dollar slurpie on your credit card. These little charges can really add up and cause serious financial trouble down the road. You could end up paying $20 for that slurpie. If you have trouble having enough money at the end of the month, try to budget your money ahead of time. Make note of what bills are due and make sure to set aside enough money to cover them and your daily living expenses.

Pay on Time, Every Time

One of the best ways to avoid unnecessary charges to your St. George credit card account is to pay the bills on time. Some people pay the bills as soon as they receive the statements every month. It is not necessary to do this as long as you pay on time. Late payments are one of the ways that credit card companies make a lot of their money. Interest rates are often raised with even one late payment. This could mean a large increase in the money that you have to pay on your account. These charges can easily be avoided with on-time payments. Even if you only pay the minimum due, that is enough to keep the rates lowered.

Check Your Credit Reports Often

Credit reports are a great way to see what your credit score is and how you look financially to banks and businesses. If you keep up with your credit card balances, then you will receive a much better credit score. Seeing your credit score lowering due to mismanaged credit card accounts may be the incentive necessary to help you keep your credit cards in line.

As you can see, managing the credit line for each of your credit cards is very important. Credit cards can be both your best friend and worst enemy. If they are managed properly, then you will never have to worry about bad credit or harassing phone calls.