Docstoc

Solid Credit Card Advice For Everyone

Document Sample
Solid Credit Card Advice For Everyone Powered By Docstoc
					Solid Credit Card Advice For Everyone

Credit cards can be quite useful. They can be used for making purchases
online, making reservations and avoiding having to carry cash all the
time. If you need some useful advice on using your credit cards
responsibly, keep reading to find some great tips.

Be sure to keep track of credit card spending every month. Be aware that
making impulsive buys can add up quickly. If you are not keeping track of
your spending, you may have a difficult time paying off the bill when it
is due.

Always try to avoid credit cards that have annual fees associated with
them. Cards with no annual fees are typically reserved for people with
higher credit scores. These fees are hard to deal with because they can
make the perks that a card has seem worthless. Perform the necessary
calculations. Most companies do not readily show annual fees; instead,
they are listed in the small print of the contract. Therefore, it is
important to take the time to completely read the fine print. Learn if
the benefits outweigh the fees. Usually they aren't worth it.

Always be sure to carefully look over credit card statements. Make sure
all the charges are accurate. Look especially for fraudulent charges that
you didn't make at all. Immediately report any inaccurate charges to the
credit card company. That can make sure you don't pay too much, and it
can also help your credit score stay where it is as well.

Whenever you see fraudulent charges on your statement, make a report
right away. This will help your creditor catch the person who is using
your card fraudulently. This also ensures that you will not be liable for
any further charges. You can report the majority of fraudulent charges
with a simple email or phone call to the credit card company.

Be aware of all of the guidelines about any frequent flier miles offered
by your credit card company. You must wade into the detailed terminology.
Many cards have blackout dates, which makes the rewards program useless.
Companies cause these restrictions to be not easy to understand for
obvious reasons. The secret is these companies don't want you getting the
rewards. They just offer them to convince you to apply.

If you do not fully trust and know the company that you are communicating
with over the Internet or phone, do not provide them with your numbers
from your credit card. If you're receiving requests for your card number,
be cautious. There are tons of scammers and unscrupulous individuals who
are just waiting for the chance to steal credit card information. Be very
careful, and protect yourself.

When you are shopping for a credit card, try to find one that offers
bonuses, or rewards that you will actually use. If you hardly ever fly,
then a card that provides you with frequent flyer miles is not going to
be useful for you. Instead, look for a card offering cash back.

Always adhere to a budget when it comes to using credit cards. You need a
budget for the money you make; therefore, your credit should be included
in it. Credit cards should not be viewed as "extra" money. Set aside a
particular amount you can safely charge to your card every month. Do not
spend more than that, and at the end of the month, pay it off.

If you use several credit cards on a regular basis, try to prioritize
their use based on their interest rate, or APR. Typically, you should use
the card with the lowest interest whenever you can. The idea is to reduce
your monthly debt. If you cannot pay for the whole balance, having low
APR credit cards will greatly reduce your interest payments.

A co-signer may be an option to consider if you have no established
credit. Anyone who has good credit can be your co-signer. They are
required to state their willingness to assume responsibility for
outstanding balances if you fail to pay. This is a good method for
improving and building your credit.

Check your monthly statement thoroughly. Try to do this as soon as you
receive your statement. If you put it off, you are more likely to forget
to check or forget the transactions in question. Moreover, the sooner you
look over your bill, the sooner you can contact the company if there are
any errors.

You should not hesitate to seek a credit limit increase when needed. The
majority of issuers are happy to raise credit limits, provided the
consumer has a solid track record of responsible behavior. Having a
larger limit offers more flexibility and more spending power.

This article should give you some idea about the responsibilities
inherent in credit card use. We must remain diligent about spending,
because sometimes we do not realize we have overspent until our card
balance is beyond our ability to pay. Minimize the risk of getting into
financial trouble by following the advice you just read.

				
DOCUMENT INFO
Shared By:
Tags: credit, cards
Stats:
views:6
posted:1/15/2013
language:
pages:2