Great Guide On How To Use Your Credit Cards
Posted at by CreditWiz on category Credit CardsHaving a credit card is of great assistance in many sticky situations. Do you need to make an emergency purchase but have no cash right at hand? No problemo! If you pay with a credit card, you will be able to pay over time. Are you looking to improve your credit score? The task is quite simple when you have a card! Keep reading for more useful ways to use a credit card.
Try to avoid using your credit cards to buy items that are way out of your affordable range. Never buy anything that you will eventually have trouble paying for.
If you notice a fraudulent charge on your credit card, report it immediately. The sooner you report it the sooner you give credit card companies and the authorities to catch the thief. It’s also the most efficient way to limit the liability you face for the incurred charges. A quick call or simple email may be all that is required for you to report a fraudulent charge.
To help ensure you do not over pay for a premium credit card, double check whether the card has an annual fee attached to it. If you are the owner of a platinum card, or a black card, the annual fees can be up to $1000. If you will not use the benefits of an “exclusive” card, the fee is not worth it.
It can not be stressed enough how important it is to pay for your credit card bills no later than the invoice deadline. You always have to pay off your credit card balance by a certain date. If you fail to make a payment by this date, you will be charged large fees by your credit card company. On top of this, you could be permanently charged a higher interest rate, and this means all future transactions will cost more in the long run.
Don’t sign up for a credit card if you have not taken the time to read all of its terms and conditions. You might find that the rate of interest is too high, the payment schedule is not flexible, or the fees are too stringent. The credit card policy must be understood if you want to avoid future difficulty.
Don’t use passwords and pin codes on your credit cards that can easily be figured out. You don’t want anyone who can go through your trash to easily figure out your code, so avoiding things like birthdays, middle names and your kids’ names is definitely wise.
If your mailbox does not contain a lock, do not order cards through the mail. Credit card thieves see unlocked mailboxes as a treasure trove of credit information.
Avoid using public computers to buy items with your credit card. This computers will store your information. This makes it easier to steal your account. If you put credit information into these computers, that is courting trouble. When making purchases online, use your own computer.
Do not assume the interest rate that you currently receive is the best interest rate available. Because there is a large amount of competition in this industry, the interest rate is always negotiable. If your interest rate is higher than you would like it to be, make a call and ask the bank to reduce it.
As you can see, credit cards have plenty of uses. This ranges from simply buying things at a checkout line to trying to boost your credit score. Factor in the information here when you think about how you will use your credit cards in the future.