It’s always handy to carry a little cash, but more and more, charge cards are becoming the standard way of purchasing things. The increase in bank fees is leading more and more people to keep their money on a credit card, and make transactions that way. This article will help you to navigate the tricky world of credit cards.
Many people have bad credit card habits. It can be okay to get into debt every once in a while; however, many people just get in way over their heads and can’t afford the monthly payments associated with their bills. The best thing to do is to keep your balance paid off each month. That will let you simultaneously use credit, keep your balance low and improve your credit worthiness.
Be smart with credit card use. Don’t charge more than you can afford to pay back. Before committing to a purchase on your card, ask yourself if you can pay the charges off when you get your statement, or will you be paying for a long time to come? If you can avoid carrying a balance over from month to month, you will remain in charge of your financial health.
Make sure that you sign your card as soon as it arrives in the mail. It is easy to forget to do, but if your card is stolen, there is no signature for cashiers to compare. At some stores, cashiers will verify your signature on the card against the signature you sign to the receipt as an added security measure.
Many times, bank cards are associated with loyalty programs. If you buy on credit often, you should look for a loyalty program which will be useful to you. If used wisely, you can end up with an extra income stream.
Always read every letter you get regarding your credit card. Written notice is all that is required of credit card companies before they change your fees or interest rates. If you don’t wish to be subject to those changes, you can cancel the card.
Don’t ever use passwords or pin codes that are easily figured out by strangers when setting up your credit card options. It can be a huge mistake if it’s something like your birthday, middle name, or child’s name since anyone can obtain this information.
Do not use your credit card to purchase things you simply cannot afford. 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. Exit the store and mull over your purchase for a couple of days before making your final decision. If you are dead set on buying the item, ask the store if they can beat your credit card’s interest rate.
Never leave a blank space when signing credit card receipts. Always fill up the signature line on your credit card tip receipt, so you don’t get charged extra. Always verify the fact that your purchases agree with what you statement says.
Charge cards are being used more and more due to the fact that electronic payments are easier to use. With this growth, you can take advantage of the benefits charge cards have. Make use of credit cards in a responsible way by keeping this article’s advice in mind.
Author: Eddy PriceThis author has published 898 articles so far. More info about the author is coming soon.