Credit cards can be a useful tool. They allow a consumer to make a purchase and defer payment. Before you make another credit card decision, there is some wise information that can really help. Keep reading this article to obtain some good advice regarding charge cards.
If you notice a fraudulent charge on your credit card, report it immediately. The earlier the credit card issuer knows, the better chance they have of stopping the thief. It’s also the most efficient way to limit the liability you face for the incurred charges. Many false charges can be fixed with a simple phone call.
Make sure your card doesn’t have any annual fees, or you will pay too much. Depending on how exclusive the card is, a platinum or black card may carry a fee of $100 to $1000. If you don’t care about exclusivity, these cards aren’t for you.
Keep a close eye on your balance. It is also important to know your credit limits. When you exceed the limit, many fees may be awaiting you. If you continue to go over your limit, you will have a difficult time paying down the balance.
If you want a good credit card, be mindful of your credit score. Creditors use your credit score to decide what type of card to offer you. The best charge cards are usually reserved for those with high credit scores.
Make your credit card’s pin code difficult to guess correctly. Never use your birth date, children’s names, middle name, or anything else that could be figured out easily by someone looking to steal from you.
Don’t buy things that you can’t pay for on a credit card. If you want a big ticket item you should not necessarily put that purchase on your credit card. You will end up paying a lot of interest and your monthly payments might be more than you can afford. Leave the store, think over it for a day or so, and then make your decision. If you still decide to purchase it, the store’s financing usually gives low interest rates.
Only order a credit card by mail if you have a mailbox that locks. Credit card thieves see unlocked mailboxes as a treasure trove of credit information.
Those with imperfect credit may want to think about getting a secured card. These cards require you to add a balance to be used as collateral. Basically, you borrow your own money, paying interest to be able to do so. If you’re using a credit card to boost your credit score, then a secured card is definitely the way to go. When getting a secured card, make sure you stay with a reputable company. Eventually, the company may offer you a normal, unsecured credit card. That will do even more to improve your score.
Credit cards could be helpful if they’re used properly. The tips in the article should help you through the basics of a credit card, so you can maintain a high credit score.