Read This Piece To Become A Credit Card Pro
Posted at by CreditWiz on category Credit CardsIn this world of financial ups and downs, consumers can use a reliable source of financial information. Although credit cards are quite useful, they could also cause you debt. Continue reading for some great credit card tips.
Don’t use cards to buy something that you cannot afford. It is acceptable to use your credit to make purchases that you will be able to pay off later, but do not make large purchases that could put you in a financial bind.
It is a smart idea to have a couple of credit cards. This will help you build one’s credit score, particularly if you pay your bill in full. Do not over-do it. Having more than three credit cards can concern a lender looking at your credit report.
You want to also avoid having to pay over the limit fees, just like wanting to avoid late fees. Both fees can be very pricey, both to your wallet and your credit report. Watch this carefully so that you aren’t going over the limit for your credit.
The moment you receive a letter or email regarding your credit card, be sure to read it right then. If a company has notified you that they will change a policy, they are within their rights to do so. If you don’t wish to comply, you are allowed to cancel that credit card.
Do not pick a pin number or password that could easily be picked out by someone else. When you use something such as when you were born or what your middle name is then people can easily get that information.
When you make online credit card purchases, exercise caution and common sense. Make sure to only purchase from a security encrypted site. If the site is trustworthy, your information is secure and encrypted. In addition, do not respond to email requests for credit card data; they are not legitimate.
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 the list somewhere safe, in a place that is separate from where you keep your credit cards. This list will help you if you ever lose your credit card or are a victim of a robbery.
Although it can be tempting to make payments right after purchasing something, avoid this. Instead, wait to get your statement and pay the full balance. This will help boost your credit score and help you obtain a stronger payment history.
Don’t ever fax other people a credit card number. Faxes are sometimes left unsupervised for long periods of time, and many people may have access to your number. Someone could then use your credit information. This exposes you to credit card fraud and various other issues.
Be honest on your credit card application. Some credit issuers never verify income, and this could result in you spending more than you’ll be able to pay back because they gave you a high credit limit.
After having used your secured credit card responsibly over a period of time, you may be able to switch to one that is unsecured. If you’re a loyal customer who pays on time, the company may start mailing you unsecured applications. At this time you can begin making more credit decisions.
Carry cards daily only if you need to use them that day. No matter how many cards you have in total, consider the ones that you most regularly use. This may be a gas card or daily charge card. Take just those two with you, and leave the others safely at home.
Review your card’s frequent flyer reward program thoroughly if it’s offered. Read the fine print completely. Some rewards have fees and blackout dates that can make the rewards practically useless. Companies cause these restrictions to be not easy to understand for obvious reasons. Companies are actually trying to prevent you from using rewards. The rewards programs serve as a lure to get people to apply.
As previously stated, consumers are often alone in the financial jungle and that includes being subject to incredibly high interest rates from credit card companies! The best ways to use credit cards has been covered in this article and hopefully, you have found this information very useful and applicable to your everyday spending habits.