Credit Card Tips From People That Know Credit Cards
Posted at by CreditWiz on category Credit CardsIt can sometimes be difficult to rummage through the mass of credit card offers that come in the mail everyday. The things that they offer you range from low interest rates, guaranteed approval, and even reward programs. How does one make the right choice with all those options? The tips in this piece can make understanding credit cards a bit easier.
A retail card should only be opened if you really use that store often. When a retail store inquires about your credit prior to opening an account, that inquiry is recorded on your report whether you go through with opening a card or not. If you’re declined by a few retail chains, for example, you can actually hurt your credit rating in the long term.
If you experience a time of financial difficulty in your life, be sure to communicate this with the credit card company to discuss options in your situation. A credit card company may work with you to set up a payment plan you can afford. This might prevent them from reporting any late payments to the major credit bureaus.
When developing a PIN or a password, make it one that is hard to make any sort of guess about. Using something familiar, such as your birth date, middle name or your child’s name, is a big mistake since this information is readily available.
When using your credit card online, you should always keep a sales receipt copy. Retain the receipt until the bill arrives so you can ensure that you were charged the proper amount. If they didn’t, call the company and immediately file a dispute. This is necessary to ensure you are not overcharged for your purchases.
Never give your card number out over the phone. Scammers often do this. If you must use your credit card over the telephone, only do so with companies you know you can trust. Never give your credit information to someone that has called you. It doesn’t matter who they say they are if you don’t know the person.
Track exactly how much you spend each month via your credit card. Be aware that making impulsive buys can add up quickly. You may not notice until your statement arrives that you have a large amount to pay and not enough income to pay it!
Carefully review all statements you get from your credit card company. Look for errors in the charges you’ve made over the month, and watch out for changes you never made. Report any discrepancies to the credit card company right away. Doing so helps avoid paying fees or charges that shouldn’t be there.
Don’t give credit card numbers out, online or over the telephone, without knowing that the company you’re dealing with is trustworthy. If you are receiving an unsolicited offer that is requesting a credit card number, be doubly suspicious. There are a lot of scams that people try to use to collect credit card numbers. Protect yourself by being cautious and staying diligent.
Always verify your charges and fees to make sure they are accurate instead of simply focusing on interest rates. Look for fees like service charges, cash advance fees, and application fees.
Don’t send your card number to anybody. Incoming faxes can sit in a holding bin forever, leaving your credit card data vulnerable to anybody who happens to walk by. Your credit card number could very easily be stolen. Once they have your information, they could steal your identity, make fraudulent charges, and ruin your credit.
People get bombarded with credit card offers week after week, and figuring out what to do with them can be a hassle. By informing yourself, it is easier to choose the right credit cards. This article gave valuable advice to assist you in making better credit card choices.