Credit cards can be the key to unlocking the life you’ve dreamed of. Having a credit card dramatically increases a person’s financial freedom. Therefore, it’s essential to select a credit card with discretion, and use it only when needed. This article contains lots of excellent consumer credit card advice.

Credit Card

Always track your credit card purchases, so that you do go over budget. If you do not consistently write down every single credit card purchase, you can easily lose track of how much you have spent and the new balance on your statement will come as quite a shock.

Always read the fine print to see if there’s an annual fee before accepting an exclusive credit card. The annual fee for a platinum or black card could cost from $100, all the way up to $1,000, depending on how exclusive the card is. The best bet is that if you do not need a premium credit card, avoid them and do not pay the fees.

Credit Card

Before even using your new credit card, be sure to read all the terms of the agreement. In most cases, using the credit card for the first time means you agree with all the terms. The fine print may be small; however, you still need to read it all.

Always sign the back of any new credit card as soon as you receive them. A lot of people forget to sign the back of their bank cards and this can have bad consequences if a credit card is stolen. Lots of venders will require a signature verification when purchasing from them.

Open and read all emails or letters in the mail about your credit card, as soon as you receive them. Credit card companies are allowed to make certain changes to fees, regular interest rates and annual membership fees, as long as they give you written notice of the changes. If you don’t wish to be subject to those changes, you can cancel the card.

When shopping for a new card, look for one that offers points, has a low interest rate and comes with no annual fee. It is wasteful to get a credit card that levies an annual fee when so many other cards are available that are free.

Public Computers

Never make use of public computers for making purchases with a card. Your information can be stored on public computers, like the ones in the library and coffee shops. If you put credit information into these computers, that is courting trouble. You should only shop online from a computer that you own.

It is possible that your interest rate can be reduced, so do not think that you are stuck with the rate you were given. Credit card companies are competitive and can change their interest rates if they wish. If you are unhappy with your current interest rate, simply call your credit card company and ask for a lower rate.

It is a good idea to contact credit card companies and request that they lower your interest rate. Many companies will lower the rate if you have a long-term relationship with a positive payment history with the company. It can save you a lot and it won’t cost you to simply ask.

Credit Card

Skip using your credit card for food items as this can take longer to post on your bill than other debts, which will make keeping track of your finances more difficult. This can cause you to spend more than you would like to because your credit card balance will appear lower than the amount you are actually responsible for.

Do not fax your credit card number to anyone. Faxes sit in offices for hours on end, and an entire office full of people will have free access to all of your personal information. Anyone who views this fax could use your information to steal from you. This could open your credit card to fraudulent activity.

Bank cards are not without advantages; they make spending easier and help to create a desirable lifestyle. When credit is used correctly it can become a great asset, but incorrect use will cause the consumer to experience credit misery. By using the information learned here, consumers can be sure that their credit cards will be door-openers and not door-slammers.