Credit Card Advice You Should Not Ignore
Using bank cards wisely can help you accumulate points that can be used on incentives like vacations. It can also relieve any stress you may have. Other folks who do not use their charge cards wisely just charge their vacation to their cards and come home to the stressful bill. Keep on reading to figure out what you can do to have and maintain a good credit card.
Before canceling a credit card and closing your account, ensure you understand how canceling it affect your credit. Many times closing an account can lower your credit score and will show up negatively on your credit report. It is important that you keep your oldest bank cards open, as they account for your credit history.
Take a look at the fine print. If you receive a pre-approved card offer, make sure you understand the full picture. Know the percent of your interest rate, as well as the length of time you will have to pay for it. Research extra fees, as well as grace periods.
Established Credit
Consider getting a co-signer if you haven’t yet established credit. Anyone who has an established credit score can cosign, such as a friend, parent, or sibling. By signing, they agree to be responsible for your credit card payment if you default on it, so they have to be completely willing to do this. Many have found this to be a great help in beginning the process of building credit.
When you make online purchases with your credit card, always print out a copy of the sales receipt. Keep this receipt so that when your monthly bill arrives, you can see that you were charged exactly the same amount as on the receipt. If the company did not charge you the right amount, get in contact with the company and immediately file a dispute. By keeping up with your payments and receipts, you’re ensuring that you won’t miss an overcharge somewhere.
Never leave a blank space when signing credit card receipts. If you do not want to leave a tip make sure to write a zero or draw a line to indicate no tip is included and nobody can add an amount in. Also, check that your purchase amounts match the amounts on your statement.
Never write down your password or pin number, for any reason. It is important that you remember your password, so that you are the only one that has access to it. Putting the number and password down on paper can be an invitation to fraud and financial disasters.
A smart move for all card users is to get free credit reports annually and check them for accuracy. Make sure your statements match what your credit report says.
Keep a running track of how much you are spending each month on your credit card. Remember that incidental and impulse purchases add up quickly. If you are not keeping accurate records, you may get a nasty shock when the credit bill arrives and you cannot pay it.
Even cards that do not offer rewards, perks and points applicable to vacations can still be a benefit to your life. People who don’t use their bank cards in a healthy manner will end up suffering high amounts of stress in the future. Use what you have went over here to learn how to properly use a card and get all its benefits.
