Credit cards have the advantage of allowing people to buy items without having the full amount of the price. Excessive credit card debt can be easily avoided if you learn a few simple rules in advance. Read on for great credit card tips.
If you see any suspicious charges to your credit card, call your credit card company right away. Taking immediate action gives you the highest probability of stopping the charges and catching the culprit. In addition, this is the best method of ensuring you aren’t responsible for the charges. It is fairly simple to report erroneous charges, either with an email or phone call to the credit card company.
Interest Rate
Understand your interest rate. It is very important to understand what the interest rate is before you get the credit card. Without a clear understanding of the interest charges, your bills could rise unexpectedly. A higher interest rate will make it more difficult to pay off your debt.
Odds are you’re well aware that late fees can be killer, but keep in mind that fees for going over your limit can also be quite harsh. Both are pretty steep, and the cost of going over the limit can not only affect your wallet but also your credit report. This is a very good reason to always be careful not to exceed your limit.
Credit Card
Always make any credit card payments on time. Not making your credit card payment by the date it is due can result in high charges being applied. Plus, many companies will increase your interest rate, making all of your purchases in the future cost you even more.
Credit cards are usually tied to varying types of loyalty programs. As long as you are in the habit of paying with a credit card, be sure to find a program which will reward you for using it. These programs can provide a source of income, when they are used wisely.
Credit Card
If you are thinking of ordering a credit card via the mail, ensure you properly protect your personal information by having a mailbox with a lock. Credit card thieves have stated that they steal cards out of unlocked mailboxes.
To save money, don’t hesitate to negotiate a lower interest rate with the company associated with your bank cards. You might be able to get a better interest rate if you are a loyal customer who has a history of paying on time. You could achieve a better rate and save a significant amount of money with just a phone call.
Don’t ever offer anyone the number associated with your credit card, be it via telephone or the web unless you know and trust the company or individual you are speaking with. Be very suspicious of any offers that are unsolicited and request your credit card number. Many unscrupulous scammers make attempts to get your credit card information. Take appropriate measures to protect yourself.
Credit Card
Negotiate with your credit card company about your interest rate. A lot of the time these credit card companies will help you to lower your interest rate if you just request it. You can probably get a lower APR by requesting it, presuming you have been a good customer who makes timely payments.
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.
Credit cards are a great tool if used the right way. After reading this article, you should have enough information to utilize your credit card responsibly to buy things, maintain a favorable credit score and remain debt-free.