Tips And Tricks On How You Could Maximize Your Charge Cards
Posted at by CreditWiz on category Credit Cards
With all of the credit card horror stories out there, it is no wonder that some people are afraid of charge cards. There is no need to be scared of charge cards. Credit cards have the potential to be very useful when you want to make a purchase, but are reluctant to do it with cash. This article will give you plenty of excellent advice about charge cards.
Read the small print. We have all been pre-approved for one card or another, but it’s important to understand all of the specifics about that card before accepting it. Understand the interest rate you will receive, and how long it will be in effect. Inquire about grace periods for payments and if there are any additional fees involved.
Credit card companies set minimum payments in order to make as much money from you as they can. Try to make a larger payment than just the minimum. This helps you pay much less interest in the long run.
It is in your best interest to pay off your credit card in full every month. The best use of credit cards is for convenience to be fully paid within the same billing cycle. Using credit helps the credit score, and when you pay the balance completely you ensure that you avoid finance charges.
It is necessary for you to sign any credit card as soon as you receive it. A lot of people do not and this can make you a victim of fraud, since the cashier will not know it is not you. Lots of merchants make the cashier verify that the signature matches in order to ensure your card is safe.
Open and read all emails or letters in the mail about your credit card, as soon as you receive them. Credit companies can change their interest rates, fees and other account details, as long as the companies provide you with advance written notice. If you don’t like the changes, you have the right to cancel your credit account.
Public Computers
Never make use of public computers for making purchases with a card. Your information will be stored on these public computers, such as those in coffee shops, and the public library. If you use these and put credit card numbers into them, you could face a lot of trouble later on. Don’t make purchases from another person’s computer.
Keep a list of the “lost/stolen card” phone numbers for each of your credit card issuers along with your credit card number for reference. Put this list in a safe place, like a deposit box at your bank, where it is away from your cards. This information will be necessary to notify your lenders if you should lose your cards or if you are the victim of a robbery.
A great tip for any card holder is to get an annual credit report to be sure everything is right. Make sure that everything in the report matches up and that your credit history is being reported with a great level of accuracy.
Research all of the charges that a credit card company may include with an offer. Look beyond interest rates. Some companies may charge application fees, cash advance fees or service charges, which may make you think twice about having the card.
Credit Card
Avoid giving out your credit card information by fax or phone. A fax can sit in the basket at the recipient’s office for hours, or even days, allowing a whole office of people access to your credit card number. Any random person with access to these areas could steal your identity. This leaves you wide open to fraudulent charges.
The credit information in this article will help individuals overcome their fear of credit card usage. Credit cards are very useful when they are used in the right way, so there is no reason to be afraid to use them. Everything will be okay if you keep the advice from this article in mind.