Don’t Let Credit Cards Take Over Your Life
Posted at by CreditWiz on category Credit CardsWith credit cards, come high interest rates and the danger or spending too much. If used properly, a credit card can offer benefits and more. To find the benefits of credit cards, read on for great tips and advice on how they can help.
Whenever you spot anything fraudulent on your monthly credit card statement, call the issuing company right away. By doing this, you can help your credit card company catch the thief who is making these unauthorized charges. By doing this you also are less likely to be held responsible for any transactions made from the thief. You can usually report fraudulent activity through a quick telephone call to your credit company.
Always track your credit card purchases, so that you do go over budget. It does not take much to let your spending get out of control, so commit to recording your spending in a spreadsheet or on paper.
In order to maintain a high credit card, ensure you are paying off your card payment on the day that it’s due. Paying late will hurt your score and incur extra fees. Set up a payment schedule that is automatic so that you can save some time as well as put some money back into your pockets.
Have a clear understanding of all the terms involved with your credit card before signing on the dotted line. You might see that their payment schedule, fees, and interest rate are higher than what you thought. The only way you can fully comprehend a credit card policy, is by reading every inch of fine print.
Anyone who is in the market for new credit cards is wise to look for cards with no annual fee and low interest rates. There are so many credit card companies that a card with annual fees is just a waste.
A credit card should not be used for purchases you cannot afford. For example, a credit card should not be used to purchase a luxury item you want that you cannot afford. You will end up paying a lot of money in interest charges, and the amount you need to pay every month might be too much for you. Walk out of the store, think about it for a few days, and then arrive at a final decision. Normally, the store itself has lower interest than credit cards.
When you buy with a credit card on the Internet, keep copies of your receipt. Do not throw that receipt out until you have your credit card statement in hand. That way you can compare the two and make sure charges are correct. File a dispute with your card company if there is any discrepancy. By keeping up with your payments and receipts, you’re ensuring that you won’t miss an overcharge somewhere.
Fill in all spaces when using your credit card at a retail establishment. Draw a pen line through the “tip” area, so that an employee cannot write something in the space and give themselves a tip. Also, check your statements to make sure that your purchases match what is on your statement.
Never be scared to ask the credit card company to lower your interest rate. If you are a long-time customer, and have a good payment history, you might succeed in negotiating a more advantageous rate. A phone call could be all you need to do to get a good rate in which you would be able to save money.
When used strategically and mindfully, credit cards could offer serious benefits. Whether its financial flexibility, emergency funds, or accumulating rewards, credit cards can really make your life quite a bit easier. You can have these benefits by using what this article has taught you.