Top 5 Myths About Credit Cards

Insider tip: By prepaying for costly planned expenses such as vacations or weddings, a fully utilized credit card can yield extensive points and bonus perks, leading to future benefits. Done with discipline, maxing can be less of a financial calamity and more of a strategic tool.

Furthermore, talking to your issuer about anticipated large sums beforehand might win you brownie points. Reporting responsible big spending could result in higher credit limits that essentially negate the hazards of maxing out.

But the final surprise—when executed shrewdly, this approach doesn’t often result in decreased scores, but often enhances them. Let’s explore how expert users flip this tactic to their benefit…