What You Should Know About Credit Cards
Posted at by CreditWiz on category Credit CardsMany people are fearful about owning a credit card because they are aware of some of the devastating consequences of large debts. Credit cards should not instill fear. They can be very helpful when a person needs to make a large purchase, or prefers not to carry or use cash. The following article contains some valuable credit card advice.
Carefully study all of the small print. Get every last detail from anyone who is offering you a credit card. Always be aware of what your interest rates are, as well as the amount of time you have to pay those rates. Also, make sure to research any associate grace periods and/or fees.
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. Many cashiers will check to make sure there are matching signatures before finalizing the sale.
Do not write you password or pin number down at any time. You need to memorize your password, as this is the only way you can ensure that no one else will find it and use it improperly. Writing the pin number down, and having it in the same place as your card, will give anyone access to it if they want it.
Before you get something online with a credit card, be sure that you can trust the seller. Call the toll-free or other phone numbers on the website to see if they work, and avoid buying from merchants that do not list an address on their website.
It is a good idea to get a copy of your personal credit report every year to make sure that everything on there is accurate. Compare the information on the report with your credit card statements and be certain they match.
Some have the mistaken idea that having no credit cards is the best thing they can do for their credit. It is important to have one card or more in order to build credit. Use it frequently, and make sure to pay off its balance every month. Not having a credit card will hurt your credit rating and prevent lending companies from being able to judge whether or not you have the ability to responsibly manage debt.
It is important to keep your credit card accounts open for as long as possible, these are not short-term financial options. If you are constantly switching accounts, you will not build a history with a lender. The longer your positive credit history is with a creditor, the better your credit score. Keeping accounts open for as long as possible will help build credit.
Never give your credit card number out, over the phone or online, without knowing and trusting the company you are dealing with. Be very suspicious of any offers that are unsolicited and request your credit card number. There are many scams out there that want your credit card number. Keep your credit card information save by being alert for scams.
Anyone who is scared to use their credit card should feel better after reading this article. If you use a credit card responsibly it can actually be extremely useful. Remember what you’ve just learned, and you’ll be fine.