According to a LendingTree study, Dallas consumers rank seventh in the nation for the highest median amount of credit card debt with $3,560.
Other major Texas cities rank near the top. In second place is Austin ($3,911), with Houston at No. 4 ($3,720), while San Antonio holds down the No. 14 spot ($3,414).
Overall, Texas has a high level of credit card use. The majority of Texans carry at least $3,000 in credit card debt. This is one reason why smart card usage is a must. Here are some tips.
Pay Your Bills on Time.
Having a good credit score is necessary to enjoy several banking services without any challenges. But, if you are not mindful about your credit card usage, your score might spiral downwards. Therefore, it’s always best to pay your cards on time, so you don’t get late payments reported against you.
Use Your Credit Card Wisely.
It is crucial to use your credit card only on verified and secured sites and locations. This can save it from getting misused by scammers for making unauthorized transactions. Furthermore, you must also never share your credit card details with anyone.
In case you lose your card, you must inform the bank authorities immediately. So, if any transaction happens after that, you will not be charged. Banks will also be able to reduce their losses by deactivating the card. Then, they’ll typically send you a new one.
A credit card is a highly beneficial product when used wisely. Apart from using it for your everyday expenses, you can even keep it as your go-to emergency option whenever an urgent financial need arises. So, enjoy all the privileges and benefits, but be sure to protect yourself.