Lots Of Excellent Credit Card Advice Everyone Should Know
Posted at by CreditWiz on category Credit Cards
Many people find the topic of credit cards to be extremely exasperating. To make your credit card experience more fun and less frustrating, all it takes is the right advice. Keep reading to find great advice for making informed decisions about your credit.
Don’t close an account without understanding the consequences. Sometimes, closing a card can have a negative impact on your credit scoring and this is something nobody wants. Choose to keep the accounts that you have had open the longest that make up your credit history.
When looking over your statement, report any fraudulent charges as soon as possible. Taking immediate action gives you the highest probability of stopping the charges and catching the culprit. It will also serve to make sure you are not going to be held accountable for any false charges. Any charges that you did not make need to be reported to your credit company with a phone call or a high priority email.
Credit Card
By keeping track of all your credit card purchases, this will help you from spending more money than you can actually afford. It can be easy to spend more on your credit card than you intended, so make the decision to keep a total on a spreadsheet or in a written record.
A minimum payment is there in order for the company to milk money from you for a greater length of time. To help decrease the length of time it takes to pay of your unpaid balance, pay at least 10 percent more than what is due. This will help you to avoid high interest rates, and it will also help you take years off of the payment structure.
Sign the back of your credit card as soon as you receive it to avoid fraudulent use. Most merchants require signature verification.
Don’t write your pin or password down where others can see it. You have to take the time to memorize these passwords and pin numbers to ensure that only you know what they are. If you have the pin number written down and near your credit card, that makes it super easy to steal.
Never let anyone borrow your charge cards. Even if it’s a good friend that needs something badly, it’s not smart just to lend a card out. There are other ways to help a friend or family member in need other than allowing them to borrow your card.
Bank Cards
As was stated earlier, bank cards can be a source of great frustration. Fortunately, with the right advice, it is easy to select a good credit card provider. Use the advice featured in this article and start getting your bank cards to work for you, rather than against you.