Tips Every Credit Card Owner Should Know
Posted at by CreditWiz on category Credit CardsMany people find credit cards to be frustrating. Just like most things, it’s easier to deal with credit cards if you have good advice. Read this article to find great credit card suggestions.
When it comes to credit cards, it is imperative that you read the contract and fine print. Before accepting any offer for a credit card, be informed of all the details. It’s important to know what your interest rate is and will be in the future. Inquire about grace periods for payments and if there are any additional fees involved.
Watch for new cards that offer a signing-up bonus if you are looking to add a credit card to you wallet. It is important to really understand the specific details buried in the fine print for actually getting the bonus. A common requirement is to spend enough on the card within a short period of time. Only apply for the card if you expect to meet the level of spending needed to get the bonus.
Don’t automatically run out and get a bit of plastic as soon as you are of age. Instead, wait a few months and ask questions so that you completely understand the pros and cons to a credit card. There are several responsibilities associated with being an adult; having a credit card is only one of them. Get comfortable with financial independence before you obtain your first card.
Always keep your receipt if you buy things online. Keep the receipt until your bill comes in and verify all charges. If it differs, file a dispute of charges with the company as soon as possible. Doing so helps to prevent overcharges on purchases.
Don’t use a public computer when you’re buying something online with credit cards. Your information may be stored, making you susceptible to having your information stolen. When you leave your details behind on such computers you expose yourself to great unnecessary risks. When you are making purchases only do so from your own personal home computer.
If anyone ever asks for credit card numbers by phone, do not give out this information. Scammers commonly use this ploy. Only provide your number to businesses you trust, along with your card company if you call about your account. Don’t give them to individuals who call you. This is a fairly common practice used by thieves and the caller usually is not who they say they are.
Do not make a payment on your card the moment after you use it. Instead, pay the balance of the card in full as soon as you get your statement. This improves your credit score and better reflects your ability to manage your credit when prospective lenders access your report.
If you are shopping around for secured cards, stay away from prepaid cards. Prepaid cards are essentially debit cards, so your activity with them does not improve your credit. In actuality, these cards are really just high-interest checking accounts that are loaded with extra costs and fees. Get a proper secured credit card by parting with a few hundred bucks for the deposit. These proper secured credit cards will help you to improve your credit rating, as they are reported to the major credit bureaus.
As was stated earlier, credit cards can be a source of great frustration. However, it’s way easier to pick a good card if you do research in advance. A credit card will be more enjoyable to use with the suggestions from this article.