Someone had said that if you want to know about the righteousness of your actions, all you have to do is ask if you would mind if the whole world knew about it! Well all of us certainly do not apply this rule to the ‘decision making’ part of our life. Why not apply it to personal finance and see of what gain it could be?

We all know that using credit card could be a tricky business. Every purchase you make is being tracked by the bankers and accordingly your credit score and cash limit is adjusted. So i suggest you to avoid using credit cards for 5 unique situations by which you could avoid lowering your credit score or credit limit.

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People below the age of 21 years are going to find it rather difficult to get a credit card since the introduction of the CARD Act which has been forward in 2009. The CARD Act stands for Credit Card Accountability, Responsibility and Disclosure.

From the beginning of the year 2010, individuals below the age of 21 years will not be permitted the issue for a credit card unless they provide with proof or evidence to suggest that they will cash out their loans and leave no unclear debts.

Several blogs have started protesting against this Act already because in a way people below the age of 21 years are being singled out and treated unfairly from the rest as legally they do qualify as adults.

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