When you open your wallet to pay for gas, your choices are usually cash, debit, or credit. Cash means running inside the store, and waiting in line. Debit can mean triggering ridiculous banks fees. Using your credit card can mean an interest free loan until the bill arrives, making it a common choice. Read on, to learn some ideas you can use to make sure that your credit cards stay a friendly part of your life.
If you see a charge on your card that isn’t yours, talk to your credit card issuer immediately. Immediate action you take gives your credit card company an upper hand in catching the thief. Also, by notifying the credit card company immediately, you can ensure that you aren’t in any way responsible for the charges. All it takes is a quick email or phone call to notify the issuer of your credit card and keep yourself protected.
Decide what rewards you would like to receive for using your credit card. There are many options for rewards that are offered by credit card companies to entice you to applying for their card. Some offer miles that can be used to purchase airline tickets. Others give you an annual check. Choose a card that offers a reward that is right for you.
Learn how to responsibly handle your credit card accounts. Debt is not always avoidable, but many people overcharge, which results in payments that they cannot afford. Try to keep any balances paid down every month. Doing this ensures you are using your credit, while maintaining a low balance and also raising your credit score.
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.
You may want to find a co-signer if you don’t have enough credit to get your own card. A co-signer could be a trusted friend, sibling or parent and anyone that already has established credit. By signing, they agree to be responsible for your credit card payment if you default on it, so they have to be completely willing to do this. Doing so is a good way to start building credit.
Always adhere to a budget when it comes to using credit cards. You should have a budget for your income, so include your credit in your budget. Never get into the habit of seeing credit cards as extra money. Have a certain amount set aside that you are willing to spend on your card each month. Don’t go over that amount, and pay the balance off every month.
Be sure to get assistance, if you’re in over your head with your credit cards. Try contacting Consumer Credit Counseling Service. This nonprofit organization offers many low, or no cost services, to those who need a repayment plan in place to take care of their debt, and improve their overall credit.
Do not apply for any credit cards by mail if your mailbox is not lockable. Many credit cards get stolen from mailboxes that do not have a locked door on them.
With your credit cards bills, it is important that you make payment no later than your monthly due date. If you pay your credit card bill late, you may be assessed a late payment fee. Paying your bill late can also cause the percentage of interest to be raised on your unpaid balance. These actions will negatively affect your credit score.
Keep multiple credit card accounts open. Having multiple credit cards will keep your credit score healthy, as long as you pay on them consistently. The key to keeping a healthy credit score with multiple credit cards is to use them responsibly. If you do not, you could end up hurting your credit score.
When it comes to credit cards, be sure that you are weary of any sort of free offers. This is important, because a lot of times, the freebies that you are offered can be thought of as traps that may lure you in and end up costing you a lot of money in the future.
Compare the features of each credit card before you choose one. Some credit cards offer cash back on purchases and others, have great rewards programs. For example, if you travel a great deal, you may want a credit card that gives you points for each purchase towards airline miles or hotel discounts.
As was mentioned earlier in the article, the credit cards in your wallet are probably a common choice for you to use for payments, for products, and services. Apply what you have learned from this article, to make sure that your credit cards stay a convenience, and not a stressful hassle in your life.