Advice Everyone Should Know When Dealing With Credit Cards
Posted at by CreditWiz on category Credit CardsMany people find credit cards to be frustrating. With the right advice, living with credit cards isn’t all that bad. This article has lots of great suggestions to produce am ore optimal credit card experience.
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 can rack up expensive fees, and hurt your credit score. Set up auto payments with your creditors to save money and time.
Make it your goal to never pay late or over the limit fees. Both fees are pretty expensive and can also affect your credit score. Carefully watch that you do not exceed your credit limit.
Any time you receive emails or physical mail regarding your credit card, open them immediately. If a company has notified you that they will change a policy, they are within their rights to do so. If you have an issue with these changes, you have every right to cancel your card.
Those of you looking to get a new credit card should limit their search to cards that have low interest rates and do not have an annual fee. With the plethora of suitable credit cards available without annual fees, there is simply no reason to get stuck with a card that does charge one.
Keep your receipts from all online purchases. Keep the receipt so that you can review your credit card bill, to ensure that the online company did not charge you the wrong amount. If you were not charged the correct amount, contact the online retailer immediately to file a dispute. This is a fantastic way to be sure that you’re never being charged too much for what you purchase.
Never let anyone borrow your credit cards. Even if the friend is a very good one and they are really in need of the card, it just isn’t a smart idea to lend yours out. Doing so can cause over-limit charges when someone else charges more to the credit card than you said he could.
If you are making a purchase on the Internet, ensure you are dealing with a legitimate person or company before handing over your credit card details. Call vendor numbers to verify the company’s validity. If there is no physical address on the site, avoid transacting with them.
You may want to appear debt-free and so avoid applying for credit cards, but this is a mistake. However, in order to build your credit you need at least one card. When you use it, make sure to completely repay it monthly. When your credit is non-existent, your score will be lower and lenders are less likely to advance credit to an unknown risk.
If you are shopping around for secured cards, stay away from prepaid cards. Prepaid cards are not credit cards at all, and they don’t report to any of the credit bureaus. Many of them charge extra fees as well, and all they are is another checking account. Put down a deposit and get yourself an actual secured credit card so that it reports to the credit bureaus, improving your score.
Speak with the company you have your credit card through in order to get your interest rates lowered. Some issuers will reduce interest rates charged to customers if their credit relationship is in good standing. This can save you hundreds of dollars a year and all it takes is a phone call.
You should close all credit card accounts that you don’t use. You risk identity theft if you keep them open. You could be charged fees annually by having a credit card that you’re not using.
People usually become disappointed and frustrated by credit card companies. The benefit of doing the right research and study of the different card offerings can make the difference in the ease of your decision. A credit card will be more enjoyable to use with the suggestions from this article.