There is however a catch to financing your purchases using a credit card. You need to be able to beat the bank at their game. Make sure that you always pay at least the required monthly amount that you are required to pay to avoid any extra interest, late payment charges and service charges. Also ensure that you have reviewed the payment terms, date of payment, penalty clauses and other terms and conditions of the credit card. While making other purchases, keep in mind that you need to make this payment too and therefore ensure that you are a sensible and mature shopper at all times. This is essential because if you miss one credit card payment, you are likely to start the process of the debt trap since there is a penalty that is charged for non payment.

It is also advisable to review your credit score and credit report so that you know the previous track record that the financial institutions will also refer to, before deciding on the rate of interest. To get a copy of the credit report check out FREE Credit Report .

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