People today are bombarded with warnings about the dangers of credit cards, overspending, and borrowing at high-interest rates. Having said that, if you use credit cards properly, they can also provide you with certain benefits, such as conveniences, peace of mind, and even certain rewards. Read this article to learn of the positive side of credit cards.
Be safe when giving out your credit card information. If you like to order things online with it, then you have to be sure the website is secure. If you notice charges that you didn’t make, call the customer service number for the credit card company. They can help deactivate your card and make it unusable until they mail you a new one with a new account number.
If you have a credit card with the high interest you should consider transferring the balance. Many credit card companies offer special rates, including 0% interest, when you transfer your balance to their credit card. Do the math to figure out if this is beneficial to you before you make the decision to transfer balances.
Don’t pay any fees upfront when you are getting a credit card. The legitimate card issuers will not ask for any money up front, unless you’re getting a secured credit card. When you are applying for a secured card, be sure to find out how the deposit is going to be used.
Never give out your credit card number to anyone, unless you are the person that has initiated the transaction. If someone calls you on the phone asking for your card number in order to pay for anything, you should ask them to give you a way to contact them, so that you can arrange the payment at a better time.
Be aware of your balance at all times. Also be aware of what your credit card spending limit is and adhere to it. If you do happen to go over your credit limit, the creditor will impose fees. It will take forever to pay down your balance if you continue to go over your card’s limit.
Read any communication about your credit cards, whether online or in the mail, right away. If a company has notified you that they will change a policy, they are within their rights to do so. If you don’t wish to be subject to those changes, you can cancel the card.
When you sign credit card receipts, never leave any spaces empty. Draw a line all the way through a tip line to prevent someone else from writing in an amount. Make sure your statements match the charges you make.
It may seem unnecessary to many people, but be sure to save receipts for the purchases that you make on your credit card. Take the time each month to be sure that the receipts match up to your credit card statement. It will help you manage your charges, as well as, help you catch unjust charges.
Make sure each month you pay off your credit cards when they are due, and most importantly, in full when possible. If you do not pay them in full each month, you will end up having to have pay finance charges on the unpaid balance, which will end up taking you a long time to pay off the credit cards.
Many people, especially when they are younger, feel like credit cards are a type of free money. The fact is, they are exactly the opposite, paid money. Remember, every time you use your credit card, you are basically taking out a micro-loan with incredibly high interest. Never forget that you must repay this loan.
Document everything you put on your card each month. Be aware that making impulsive buys can add up quickly. If you do not monitor the amount of money you are spending with your credit card, you may not be able to pay the entire bill when month end arrives.
Do not just assume that the billing statements from your credit card company are accurate. Make sure all the charges are accurate. Look especially for fraudulent charges that you didn’t make at all. Call your credit card company’s dispute resolution hotline immediately if you find something wrong with your statement. By keeping a close eye on all of your statements, you will prevent inaccurate charges and keep your credit score high.
When you receive a replacement credit card in the mail, cut up your old one, and throw it away immediately. This can prevent your old card from becoming lost, or stolen, allowing someone else to get hold of your credit card number, and use it in a fraudulent way.
Shred old credit card receipts and statements. You can easily purchase an inexpensive home office shredder to handle this task. Those receipts and statements, often contain your credit card number, and if a dumpster diver happened to get hold of that number, they could use your card without your knowledge.
Always pay your credit card bill on time. Paying credit card bills late, can result in addition charges on your next bill, such as late fees and interest charges. In addition to this, late payments can adversely affect your credit score. This can negatively affect your ability to make purchases, and receive loans in the future.
There are so many cards available that you should avoid signing up with any company that charges you a monthly fee just for having the card. This will end up being very costly and might end up making you owe much more money to the company, than you can comfortably afford.
If you spend some time proving yourself responsible with secured credit cards, the card company may be ready to let you have an unsecured one. Also, once you have proven yourself you may begin receiving credit card offers in the mail. This is when you are going to have to go into decision-making mode, yet again, when re-evaluating your situation.
When used mindfully and strategically, credit cards can offer serious benefits. Your life can be much better from having a credit cards, giving you flexibility, rewards, and emergency spending money. Intelligently applying the information from this article will allow you to use your credit cards properly.
Written By
It's easy to get confused when you look at all the credit card offers that are out there. However, if you educate yourself about credit cards, you won't sign up for a card with a high-interest rate or other problematic terms. Read this article to learn more about credit cards, so that you can figure out which card best suits your needs. Don't use cards to buy something that you cannot afford....
Given how many businesses and establishments allow you to use electronic forms of payment, it is very easy and convenient to use your credit cards to pay for things. From cash registers indoors to paying for gas at the pump, you can use your credit cards, a dozen t...
Owning a credit card has many advantages. For example, you can use a credit card to buy goods online. Unfortunately, when you apply for a new credit card, there are a few thing that you should always keep in mind. Here are some tips that will make obtaining and usi...
Credit card usage is an almost universal fact of modern life. There can be no denying that credit cards represent a degree of convenience and flexibility that is hard to beat. However, the key to smart credit card utilization is knowledge. By reading the ideas in t...