This post is towards Canadian readers. All of us want to improve our credit scores to borrow money at lower interest rate when we buy a home, refinance the home or buy our cars. One way to improve the score is by having credit cards and using them well. But to have a credit card you need to have a good credit score. It’s a vicious cycle, how to get approved for a credit card with bad credit?

Each financial decision you make has an impact on your credit score. In general, your credit score is a reflection of how well or how poor you manage your finances. In recent times I applied for 3 different credit cards, total 4 in this year alone. I got approved for all of them. I apply for cards in a bunch of 3-4 every 6 months. This ensures I get sign-up rewards and bonus constantly, they are free money.

Managing your money can seem like a complex thing to get right. Indeed, one in six adults is said to have financial worries in the UK.  And, in the USA, that is one in every three adults. The key to keeping on top of things when it comes to your finances is to understand all of the options open to you and when to use them best to your advantage.

One clear example of this comes with the use of credit cards. These little pieces of plastic are, according to the UK Cards Association, used to make almost 300 million purchases a month in the UK. But how to best manage a credit card?

This post is dedicated to my Indian readers. As the government takes a landmark decision for demonetizing the existing Rs. 500 and Rs. 1000 bank notes, while leaving the use of plastic money unaffected, it is sure to affect the way people look at plastic money. Clearly, the decision will have a lesser impact on people who already use credit cards and debit cards while greatly affecting those who rely heavily on cash.

Though the use of credit and debit cards has increased in the last few years, a majority of Indians still prefer to transact in cash. While most of the people do not like the idea of using credit cards due to a fear of overspending, some of them shy away as they believe it would have an adverse effect on their credit history and bring down their credit score.