Don’t cut up your credit cards to stop yourself from overusing them. Instead, read this article to learn how to use credit cards properly. Not having any credit cards at all can hurt your credit score, so you can’t afford not to use credit. Continue reading, to learn how to use it appropriately.
Whenever you see fraudulent charges on your statement, make a report right away. This gives the credit card companies the most opportunity to catch the person responsible. This will help ensure you are not liable for any fraudulent charges against the card. It usually just takes a brief email or phone call to report fraudulent charges.
Ensure you pay your payment by the due date to boost your credit score. Paying late can rack up expensive fees, and hurt your credit score. You can save a lot of trouble by setting up automatic payments.
Before you decide on a new credit card, be careful to read the fine print. Credit card companies have been in business for many years now, and know of ways to make more money at your expense. Be sure to read the contract in full, before signing to be sure that you are not agreeing to something that will harm you in the future.
Be sure to read the fine print of the credit card terms carefully before you begin making purchases to your card initially. The first use of your card is perceived as an acceptance of its terms by most credit card issuers. No matter how small the print is on your agreement, you need to read and understand it.
When looking to open a credit card, start by eliminating any with annual fees or high interest rates. There are a lot of credit cards that have no annual fee, so you should avoid the ones that do.
Talk to your bank about lowering interest rates. If they will not do so, it might be time to shop for a new card. After you’ve found one, switch to that creditor.
Look into the rewards that credit card companies offer. Find one that is going to pay you for making purchases on their card. If you are trying to maximize the rewards, charge everything you can on the card, but be sure to put enough cash back to pay the card off each month, in order to avoid losing your rewards to interest fees.
Make a spending plan. When carrying a credit card on you and shopping without a plan, you have a higher chance of impulse buying or overspending. To avoid this, try planning out your shopping trips. Make lists of what you plan to buy, then decide on a charging limit. This plan will keep on track and help you resist splurging.
It is very important that you save your credit card receipts. You need to compare them with your monthly statement. Companies do make mistakes and sometimes, you get charged for things you did not purchase. So make sure you promptly report any discrepancies to the company that issued the card.
Do not be dishonest about your finances when you are applying for credit cards just because you would like a higher limit. There are companies that will not do an income verification, which often leads to higher limits that are difficult to control.
Be aware that you can still have a credit card, even if your credit is not up to par. There are basically two choices to pick from. You could either get yourself a secured card or sign up to be an authorized user on the credit card of a family member or partner.
After closing a credit card account, destroy the card completely. Leaving an expired card or one for a closed account lying around exposes you to risk. If such cards wind up in the hands of someone unscrupulous, they provide all of the necessary information to reopen an account in your name and use your credit without authorization.
Save the plastic for larger purchases. Some vendors require a minimum purchase for credit cards and you may buy extra things to bring the charge up. Keep your card for items that cost more than $10.
Be wary of signing up for credit cards for all the wrong reasons. Yes, enough miles for an incredible vacation sounds terrific, but do you really need that additional card? You may find the interest you pay on that card, especially when it is maxed out, will pay for that trip multiple times over.
This article should give you some tips to use when dealing with credit cards. Credit cards are useful and offer financial flexibility. So you need not continue avoiding applying for or using credit cards, especially when they can come in so handy at times. Keep this information in mind to make your credit a responsible area of your life.