Some people choose to live without credit cards because they fear that they might run up lots of debt if they got one. However, there is no reason for you to be scared about owning a credit card. Credit cards can be helpful when you need to purchase items but don’t want to use cash. In the article that follows you can find advice that will help you with charge cards.
Review the specific terms of the offer. If there’s an offer for a pre-approved credit card or if a person says they can help you get a card, get all of the details beforehand. Find out the exact interest rate and the time that rate is in effect for your card. You should be aware of any and all fees, and be aware of grace periods.
Try to avoid any credit card fees–late payment fees, annual fees, and exceeded limit fees. Both of these are pretty large fees and going over your limit can put a blemish on your credit report. Keep an eye on your balance so it does not exceed your credit limit.
Set a budget that you can stick to. Just because there are limits on your card, does not mean you can max them out. Plan out how large of a payment you can afford in respect to paying off your entire balance each month.
Be sure to study your credit card terms closely prior to making your first purchase. Most companies think the first time you use their card constitutes accepting their terms. Even though the agreement’s print is tiny, read it as carefully as you can.
Make sure to sign your cards as soon as your receive them. Lots of merchants make the cashier verify that the signature matches in order to ensure your card is safe.
You can save yourself money by asking for a lower interest rate. If you have a significant history with a credit card company, and have paid your payments in a timely manner, they may be willing to offer you a lower rate. Making one simple phone call can result in a better rate and help you save money.
Never reveal your credit card account number over the phone to someone who has called you. This is something most scammers do. Only provide your number to the businesses that you fully trust and to the card company when you contact them. Do not provide it to the people that contact you. It does not who they say they are, you still are not fully aware of who might be on the other end.
Read the fine print to determine what conditions may affect your interest rate as they can change. The credit card business is a competition. Therefore, all card companies have varying interest rates they can utilize. If you are not happy with your interest rate, call your bank and ask them to change it.
If your credit has been damaged, you can apply for a credit card which is secured. These are cards that require a balance as collateral. Functioning in many ways like a debit, your money stands as insurance that you won’t go crazy and max your cards out. It isn’t ideal, but it’s the only method to improve your credit. Just remember that you still need to ensure the company you’re dealing with is honest. They may offer you an unsecured card later, which will help your score even more.
Anyone who is scared to use their credit card should feel better after reading this article. If you use common financial sense, there is no reason to fear using a credit card for purchases. Just remember what you have learned and everything will be okay.
Author: Eddy PriceThis author has published 1078 articles so far. More info about the author is coming soon.