Tips On Using Credit Cards Within Your Budget
Posted at by CreditWiz on category Credit CardsPeople all over the world use credit cards to help them get the things they need to achieve their goals. Having a credit card can provide opportunity and greater financial freedom. Keeping this in mind, it’s crucial that you carefully pick your credit card and use it wisely. The article below covers some of the basic credit information to help consumers achieve that balance.
Don’t consider opening a store credit card unless you plan to make purchases at the store on a regular basis. 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 have many retail inquiries, your credit score may decrease.
Always review the fine print on your credit card disclosures. If you receive an offer touting a pre-approved card, or a salesperson offers you help in getting the card, make sure you know all the details involved. Find out what your interest rate is and the amount of you time you get to pay it. You should be aware of any and all fees, and be aware of grace periods.
Don’t put off signing the back of any new credit cards you’ve been issued. If you don’t sign it immediately, your card can easily be stolen and used. Many merchants require the cashier to verify the signature matches so that you can keep your card safer.
It may be unwise to obtain credit cards immediately upon reaching the age of eligibility. While doing this is common, it’s a good idea to wait until a certain level of maturity and understanding can be gained. Get a little bit of adult experience under your belt before making the leap.
Don’t put your pin or password to paper, no matter what the circumstances. You need to just remember what your password is so no one else can steal or use it. Writing the pin number down, and having it in the same place as your card, will give anyone access to it if they want it.
Be careful when you make online purchases. Closely scrutinize the companies you are willing to give your personal information to. Try out any telephone numbers they have listed, and if there is no address listed for the seller, treat this with suspicion.
Do not assume the interest rate that you currently receive is the best interest rate available. Credit card companies normally have several interest rates they can offer to customers. If you are unhappy with your current interest rate, call the bank or company and ask for a lower one.
When looking for secured cards, do not get prepaid cards. This is nothing more than a debit card and won’t affect your credit rating. Many prepaid cards charge extra fees and they are really just a checking account. Place a deposit and get a proper secured credit card which will report to all major credit bureaus and raise your credit score.
Check with your credit card company about their willingness to reduce your interest rates. There may be some companies that could reduce the interest rates they charge if they know that they have a good relationship with their customers. It can end up saving you quite a bit and is not going to cost you anything to ask.
Credit cards provide lots of advantages, such as opening up lifestyle and spending options. When credit is used responsibly, it is great. However, poor credit habits have mired many consumers in ruin. Use the advice from the article above to make credit card decisions wisely and enhance your life.