September 18, 2019

Looking For Credit Card Answers? Well You’ve Found Them Here!

Credit cards can be useful in a lot of ways because they enable people to buy items without them having to pay for them instantly. Excessive credit card debt can be easily avoided if you learn a few simple rules in advance. Keep reading or useful tips about credit cards.

Review the specific terms of the offer. If you receive a pre-approved card offer, make sure you understand the full picture. Find out the exact interest rate and the time that rate is in effect for your card. Also, make sure to research any associate grace periods and/or fees.

In order to maintain and improve your credit score, it’s best to make card payments before the day they’re due. Any and all late payments will negatively impact your credit ranking, and could lead to expensive fees. You can avoid being late by putting your credit card payments on an automatic schedule.

Pay 100% of your credit card bill each month if you can afford it. Credit cards should be used for your convenience and should be paid in full monthly. Credit cards help build your credit score; however, you should avoid finance charge by paying your balance in full at the end of each billing cycle.

If you are having hard times financially, be sure to inform the credit card company. If you think you may miss a payment, your credit card company will often work with you and set up an adjusted payment plan. Doing so could help you avoid being reported to major reporting agencies for the late payment.

Purchases with credit cards should never be attempted from a public computer. Your credit information may be stored in these computers. Public computers are often found in coffee shops and public libraries. If you use these and put credit card numbers into them, you could face a lot of trouble later on. Only use your personal computer to make purchases.

You should never jot down your password or pin number, regardless of the circumstances. You must remember the number so that others can’t access your account. Writing your pin number down increases the chance that someone else uses it.

Create a list of your credit cards, including the account number and emergency contact number for each one. Put this list in a safe place, like a deposit box at your bank, where it is away from your cards. Should your cards ever be lost or stolen, you can use this list to promptly notify the companies that issued your credit cards and advise them of the situation.

Check with your credit card company about their willingness to reduce your interest rates. If you have built a positive relationship with the company, they may reduce your interest rate. It could save you a lot of money and there is no cost to asking for it.

Never send you card number to someone by fax. A fax may sit in a person’s inbox for a while which exposes your card number to anyone in the office. If any of those people is a thief, you are in trouble. Sending your information through a fax makes you at risk for identity theft.

If you have several cards, focus on paying off just one. Even if there is a great deal of debt related to your other cards, your credit history will benefit from having one active card that is paid in full each month.

When used wisely, credit cards are extremely effective tools. The basic guidelines in this guide will give you the information that you need when making purchases using your credit card. By following the tips here, you will also be able to maintain a good rating and you will also be able to stay away from debt.

Shane Marine is manager of the Consumer Assistance Center located in Tampa FL. Shane has devoted his career towards giving people the means needed to tackle pushy consumer debt collection practices.

Shane assists individuals by means of his website where you can easily sign up for free and get access to a treasure trove of information and sample letters.