Never send a fax with your card information for any reason. Not all fax machines are located in secure locations, so you have no idea who could read the fax and note down your card details. Anybody in the office is a potential thief. If a criminal steals your credit cards number, your credit could be seriously damaged.
Every month, carefully review your credit company statements. Look at your statement to ensure that there arent any errors or things you never purchased on it. Call your card companys dispute resolution hotline immediately if you find something wrong with your statement. That way, you can avoid paying unnecessarily, and prevent damage to your credit record.
TIP! With any introductory interest rate offer or balance transfer offers, you must read all the fine print. It is crucial that you fully understand what is going to happen upon the expiration of the introductory period.
Check through your old card accounts and consider closing any that you no longer use. If you close them, that will stop anyone from making unauthorized charges with them. Even if credit cards which you no longer use has a remaining balance, it can still be closed. Just keep making payments until you have paid off the whole amount.
Dont Use Your Credit Cards If You Cant Pay The Bill Off
If you cannot afford something, dont put it on credit cards. If you want a big ticket item you should not necessarily put that purchase on your card. If you cant pay off the balance right of way, you will risk not being able to make your monthly payments and owing quite a bit of interest. Go home to mull it over for a couple of days and then reach a rational decision. If you still want to purchase it, the store usually has in-house financing that will have lower interest rates.
Make it a point to remind yourself that credit cards are loaned money. This fact is easy to forget and can get you into some serious trouble if you do. Eventually, you will have to pay for any items that you buy with credit cards with real cash. By remembering that youre borrowing money, you might skip unnecessary purchases.
TIP! Dont use a credit card for withdrawing cash from the ATM or for buying casino chips. Gambling transactions are also expensive when using a credit card.
If you have just turned eighteen, you might want to think twice before applying for a card. Though this is commonly done, it is important to educate yourself thoroughly on credit cards before jumping in. See how adult life is before you decide to get your very first card.
If you have damaged your credit, think about getting a card that is secured. A secured card require a balance for collateral. Essentially, youre borrowing your money and then paying interest on the privilege itself. It isnt ideal, but its the only method to improve your credit. When getting secured credit cards you should only deal with companies that are well known. They might offer you one of these cards at a later time, and this can help with your score some more.
Read The Fine Print On All Your Credit Cards
Always read the fine print to see if theres an annual fee before accepting an exclusive card offer. Annual fees for black or platinum cards can range from $100 to $1000 depending on the cards exclusivity. If you dont care about exclusivity, these cards arent for you.
TIP! It is very easy to mishandle credit card usage. While going into debt is understandable in some circumstances, there are many people who abuse the privileges and end up with payments they cannot afford.
You want to stay away from both late fees and over the limit ones. Both fees are pretty expensive and can also affect your credit score. Keep an eye on your balance so it does not exceed your credit limit.
Attempt to only use your credit cards when you need to. For other times, use your debit card. You should use your credit cards for large purchases, like big ticket electronics. For your smaller purchases utilize your debit card. That can save you a lot of money.
Knowing what youve now read about credit cards, you should be comfortable with the fact that a card isnt something to fear. When you know how to use them properly, credit cards can be very handy, so you do not have to feel anxious. Keep the advice you have learned here in mind, and use your card with confidence.
How To Pay Off Burdensome Credit Cards
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Love and Success,
Pat Giaconia Entrepreneur
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