Credit Card Tips That Anyone Can Try
Posted at by CreditWiz on category Credit CardsMany people are able to live the lives they live because of credit cards. Having a credit card can open doors, giving the bearer financial freedom. Having said that, it is always important to choose a credit card wisely and use it with a high level of diligence. This article contains some great advice to help consumers to do just that.
Read the small print. Before accepting any credit card offer ensure you know all the details. Understand the interest rate you will receive, and how long it will be in effect. Also, know what fees are associated with the account and if there are any grace periods.
In order to keep your spending under control, make a record of the purchases that you make with your credit card. Getting carried away with credit card spending is easy, so keep careful track each time you use it.
Read the terms of your credit card agreement carefully before you use your credit card for the first time. When you make your first purchase on a new credit card, the credit card company will usually consider your purchase as your acceptance to their terms. Be aware of all of the “fine print” that comes with your credit card!
It is common for credit cards to be linked to loyalty or affinity programs. If you regularly use a credit card, it is essential that you find a loyalty program that is useful for you. Over time, the perks add up and will give you some great additional income or discounts.
Read any communication about your credit cards, whether online or in the mail, right away. A credit card company, if it provides you with written notifications, can make changes to membership fees, interest rates and fees. Read the correspondence carefully to check for any unwanted changes. You have the right to cancel your card if you don’t like these changes!
When shopping for a new card, look for one that offers points, has a low interest rate and comes with no annual fee. Since so many cards do not charge an annual fee, it is a waste of your money to pay annual fees.
Do not use credit cards to buy items that you cannot afford. Credit cards should not be used to buy things that you want, but don’t have the money to pay for. You will end up paying a lot of interest and your monthly payments might be more than you can afford. Leave the item in the store and think about the purchase for at least a day or two before making a final decision. If you are still set on buying it, you are probably eligible for the store’s financing program that will save you money in interest over the credit card company.
When signing credit card receipts in stores, don’t leave blank spaces. Having a blank space on your receipt is literally leaving space for someone to add an amount where you don’t want it. Be sure to mark through the space with a straight line. When your credit card statements arrive, take the time to ensure all charges are correct.
There are lots of great aspects to credit cards, as they facilitate greater financial freedom and provide purchasing power. Along with the clear advantages credit cards offer, there are dangers to avoid. Used carelessly, credit cards can cause financial ruin. This article has contained some valuable advice that can help any consumer to make educated credit card decisions that enhance their life and prevent credit pitfalls.