Interested In Learning About Bank Cards? Read On
Posted at by CreditWiz on category Credit Cards
There are people that are afraid to have any bank cards because of all the problems that could come up. There is no reason to fear owning a credit card. They are often convenient ways of purchasing items and reduce the need to carry cash. The following article contains some valuable credit card advice.
Any fraudulent charges made using your credit should be reported immediately. This way, they will be more likely to discover the culprit. This will also prevent you from becoming responsible for too many unauthorized charges. A quick call or simple email may be all that is required for you to report a fraudulent charge.
Inspect the fine print carefully. If you receive a pre-approved card offer, make sure you understand the full picture. Know the percent of your interest rate, as well as the length of time you will have to pay for it. Remember to check out any grace periods and finance charges involved, too.
Check whether there is an annual fee attached to your credit card, to make sure you aren’t overpaying for a premium card. Some exclusive bank cards require you to pay between $100 and $1,000 per year to keep the card, depending on exactly how exclusive the card is. If you do not require a card like this, choose a card with lower or no fees.
Make sure you are smart when using a credit card. Don’t charge more than you can afford to pay back. This will ensure that you can pay the charges off when your statement arrives. By carrying a balance, it’s easy to create more and more debt, making it harder to get the balance paid off.
Credit Card
Be sure you don’t order charge cards if your mailbox isn’t lockable. Credit card theft often takes place by simply removing a new credit card from an unlocked mailbox.
Never use a public computer to buy anything with your credit card. Your credit card number could be stored in the auto-fill programs on these computers and other users could then steal your credit card number. You will be inviting trouble if you go ahead and do that. Restrict your purchases to your own personal computer.
Be careful when you use a credit card on the Internet. Before you enter any of your credit card information, make sure the site you are using is secure. Secure sites protect your card information from being stolen. Additionally, disregard any email requesting credit card info, as these are most often ploys to get at your valuable personal data.
If anyone asks you to give them your credit information or card number over the phone, never give it to them. It is always a mistake to give out your confidential information to anyone over the telephone as they are probably scammers. Only provide your number to the businesses that you fully trust and to the card company when you contact them. Never give any personal information to anyone who calls you. This is a fairly common practice used by thieves and the caller usually is not who they say they are.
Monthly Income
Many experts suggest that your credit limit on a given card should never exceed three-quarters of your monthly income. Try to pay off your credit card immediately if your limit is more than your monthly income. The interest on several accounts can quickly get out of control.
Check with your credit card company about their willingness to reduce your interest rates. There are plenty of creditors who will lower interest rates if the consumer has established a good history of on time payments. This can save you hundreds of dollars a year and all it takes is a phone call.
Negotiate for a better interest rate, especially if you have been with the company for a long time. Contact the company that issues your credit card, you may be able to get them to lower your rate. If your payments have always been timely and you have been a solid customer, you stand a good chance of being granted a reduced APR.
Credit Cards
Hopefully, the advice about credit cards will help you alleviate your unnecessary fear of using charge cards for purchases. Credit cards are really useful if used properly and there’s no reason that someone should be afraid of using them. Everything will be okay if you keep the advice from this article in mind.