Great Tips For Understanding A Credit Card Statement

One good credit card may be a great help in cases of emergency or immediate financial needs. Do you have to make a purchase, but have no money to make the payment? Well, you are in luck! Pull our your credit card and you’ll be fine. Do you want a better credit score? You can do it with a credit card! Keep reading this article for great ways you can make use of a credit card.

Unauthorized Charges

Speak with the credit card company right after you see a charge on your statement that you did not make. The earlier the credit card issuer knows, the better chance they have of stopping the thief. This will also prevent you from becoming responsible for too many unauthorized charges. To report any unauthorized charges to your card, either call or email your credit card issuer.

TIP! If your financial situation takes a turn for the worse, it is important to notify your credit card issuer. If you are going to miss an upcoming payment, work with your creditor to come up with a solution.

Only apply for store cards with merchants you shop with often. The initial credit inquiry with the credit bureaus that a retail store makes to sign you up will end up on your credit report, whether or not you end up opening an account. A report that is peppered with too many credit inquiries like those made by retail stores can hurt your overall credit score.

Go over the fine print. Before accepting any credit card offer ensure you know all the details. Be aware of how much the interest rates are going to be, and how much time it will take you to pay for it. Be sure to also find out about grace periods and fees.

TIP! Consider getting a co-signer if you wish to open a credit card without established credit. A parent or other relative may be willing to be a co-signer.

Fees from going over the limit want to be avoided, just as late fees should be avoided. These fees can be very expensive and both will have a negative impact on your credit score. Be vigilant and pay attention so you don’t go over the credit limit.

Credit Card

TIP! The signature strips on the back of your new credit cards should be signed as soon as you receive them. Too many consumers forget this important step, and their credit cards are that much more at risk of theft.

If you have trouble getting a credit card on your own, try to find someone who will co-sign for you. A parent or other relative may be willing to be a co-signer. They are required to state their willingness to assume responsibility for outstanding balances if you fail to pay. This method is a smart way to help build your credit with a first credit card.

Think wisely about how you use your bank cards. Limit your spending and only purchase things with your card that you can afford. Before you buy something with your card, be certain you can pay for it in full when you get your statement. If you hold onto your balance, your debt will keep increasing, which will make it much more difficult for you to get everything paid off.

Credit Card

Keep track of your credit score if you would like to get a good credit card. Credit card companies always use credit scores to determine what kinds of cards they will offer consumers. Low interest credit cards, cash back incentives, and best points options are offered to those with great credit scores.

TIP! Try calling your credit card provider and asking for a lower rate. If you have a significant history with a credit card company, and have paid your payments in a timely manner, they may be willing to offer you a lower rate.

People searching for new credit cards should try and find one without an annual fee and with low interest rates. With so many cards out there that don’t require an annual fee, getting one with an annual fee is simply a waste of money.

There can be no doubt that credit cards are versatile tools. Whether they are used solely for purchases or for more advanced purposes like managing debt and building good credit, responsibly-used bank cards are extremely helpful. By using what you’ve learned here, you will be able to use your card to your advantage.


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