Having a credit card is useful for those people that want to buy things and pay for them later. Excessive credit card debt can be easily avoided if you learn a few simple rules in advance. Continue reading this guide in order to get good credit card advice.
You should try to have at least two open cards or possibly three open credit accounts. That will assist you in building up your credit score; this is especially true if you can pay the cards off each month. If you have more than 3 credit cards however, that might not look right to a lender who looks as your credit report.
Inspect the fine print carefully. Make sure you understand what you are getting involved in, even if it is a pre-approved card or a company offering help with getting a card. It’s important to know what your interest rate is and will be in the future. Furthermore, make sure you are aware of potential fees or billing grace periods.
Be careful when using charge cards. Don’t charge more than you can afford to pay back. If you use the card for something, ensure you can pay it back immediately. When you carry a balance, it is not hard to accumulate an increasing amount of debt, and that makes it more difficult to pay off the balance.
Consider the different loyalty programs offered by different companies. Look for a useful loyalty program if you use charge cards regularly. If used wisely, you can end up with an extra income stream.
When you sign credit card receipts, never leave any spaces empty. If your receipt includes a space for indicating a tip, it’s a good idea for you to zero it out or line through it so that an unauthorized amount does not appear on your final bill. When your monthly statement arrives, compare the charges with your receipts to ensure that everything matches.
Credit Card
If you are called and asked for the number of your credit card, refuse to divulge it. Scammers use this trick all the time. Only share your credit card number with trusted businesses and with the company that owns the credit card. Never give your number to random people who call your home. Credit card thieves will say anything to get you to believe their story, and they are very good at it.
Always keep in mind that the introductory interest rate offered to you is not set in stone. The industry that runs bank cards are competing all the time, so they always have various interest rates. If you’re unhappy with your rate of interest, contact your bank and tell them you would like them to lower it.
Bank cards can be helpful, if they are used properly in the right hands. This article had basic credit tips to help you use your credit in a mature way.