Whether it is your first credit card or your tenth, there are several things that should be considered before and after you get your credit card. The following article will help you to avoid the many mistakes that so many consumers make when they open a credit card account. Read on for some useful credit card tips.
Keep track of how much money you are spending when using a credit card. Small, incidental purchases can add up quickly, and it is important to know how much you have spend on them, so you can understand how much you owe. You can keep track with a check register, spreadsheet program, or even with an online option offered by many credit card companies.
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.
When choosing the right credit card for your needs, you need to make sure that you pay attention to the interest rates offered. If you see an introductory rate, pay close attention to how long that rate is good for. Interest rates are one of the most important things when getting a new credit card.
You should contact your creditor, if you know that you will not be able to pay your monthly bill on time. Many people do not let their credit card company know and end up paying very large fees. Some creditors will work with you, if you let them know the situation ahead of time and they may even end up waiving any late fees.
For your credit to remain in good standing, you have to pay all your credit card bills on time. Making your payments late will negatively affect your score and cost you additional fees. Setting up an automatic payment schedule with your credit card company or bank can save you time and money.
If you need to use credit cards, it is best to use one credit card with a larger balance, than 2, or 3 with lower balances. The more credit cards you own, the lower your credit score will be. Use one card, and pay the payments on time to keep your credit score healthy!
Fill in all spaces when using your credit card at a retail establishment. This includes putting lines or crosses on tip lines or other blank areas. Make sure your statement matches the purchases you have made.
Never write down your password or pin number, for any reason. Be sure to keep the password in your mind only, so you’re the only person who can access it. Writing your pin down and placing it in a similar area where you place your card is not a good thing to do.
Make sure that you watch your statements closely. If you see charges that should not be on there, or that you feel you were charged incorrectly for, call customer service. If you cannot get anywhere with customer service, ask politely to speak to the retention team, in order for you to get the assistance you need.
The credit card that you use to make purchases is very important and you should try to use one that has a very small limit. This is good because it will limit the amount of funds that a thief will have access to.
Those with imperfect credit may want to think about getting a secured card. Cards like these need a collateral. In other words, you will be borrowing money that is yours while paying interest for this privilege. Not the best idea, but it can help you better your credit. Choose reputable companies when you sign up for secured cards. They might eventually offer you a card that is unsecured which is even better.
To avoid interest charges, don’t treat your credit card as you would an ATM card. Don’t get in the habit of charging every single item that you buy. Doing so, will only pile on charges to your bill, you may get an unpleasant surprise, when you receive that monthly credit card bill.
Keep careful records of your monthly spending on credit cards. Remember that impulse purchases can really add up fast. If you are not watching how much you charge to your credit card, you might not have the money to pay the bill when it comes.
You should now have a better idea about what you must do to manage your credit card accounts. Put the information that you have learned to work for you. These tips have worked for others and they can work for you to find successful methods to use regarding your credit cards.
