Use Your Credit Cards The Right Way
Posted at by CreditWiz on category Credit CardsWhen used properly, credit cards are useful for all kinds of transactions. If you are looking for information about credit cards and using them without accruing too much debt, the following article should be very useful.
Whenever you spot anything fraudulent on your monthly credit card statement, call the issuing company right away. By doing so you give the credit card company the best chance of catching the thief. Doing this also helps ensure that you will not have to pay for such charges. It is fairly simple to report erroneous charges, either with an email or phone call to the credit card company.
Pay close attention to your credit balance. You should also be sure to know that you are aware of the limit that your creditor has given you. Exceeding the limit will result in significant fees. Furthermore, it will take you much longer to clear your credit card balance if you continually exceed the credit limit.
If you do not have credit and want a credit card, consider getting a co-signer. This can be anyone who trusts you, like a relative or close friend. Your co-signer must sign a statement that makes them responsible for the balance if you default on the debt. This is a good method for improving and building your credit.
Plan a budget you will have problem following. Remember, your credit card’s credit limit is not a target to aim for. Only spend what you can afford so that you can pay the bill off at the end of the month.
Make sure that you fully comprehend the terms and conditions of a credit card policy before you start using the card. When you first use a card, you are basically accepting the terms the company offers. It seems tedious to read all that fine print full of legal terms, but do not skip this vital task.
Be sure you sign your cards as soon as your receive them. Most merchants require that your signature matches your I.D. This can help to ensure no one uses your card unauthorized.
Those people looking to acquire a new card should look for no annual fee, lower interest rates and lots of perks. It is wasteful to get a credit card that levies an annual fee when so many other cards are available that are free.
Anytime you use credit cards for online purchases, print and save a receipt. Keep your copy at least until you receive your monthly statement, to be sure that you were charged the authorized amount. If an error has occurred, lodge a dispute with the seller and your credit card provider immediately. This can be an excellent method of assuring you don’t get overcharged for purchases.
Never leave a blank space when signing credit card receipts. Draw a pen line through the “tip” area, so that an employee cannot write something in the space and give themselves a tip. Keep a copy of the receipt so that you can verify that the amount on your statement matches it.
Do not be hesitant to inquire about getting a lower interest rate. You can negotiate better interest rates if you have a good relationship with your credit card company. All you may have to do is make a phone call in order to obtain a better rate and save money.
Monitor your credit score. The benchmark score which is considered good by lenders is 700 or above. Establish your credit so that you can obtain and keep that level. This will enable you to take advantage of the very best credit offers, including low rates of interest and fantastic incentives.
This article aims to give you great credit card information. You can never have too little debt, and some people don’t realize this until they racked up thousands in credit card bills! Make sound, careful financial decisions with your credit cards.