Everyone should have one credit card simply to build good credit and learn basic money-management skills. It is important to be educated on credit cards so you make educated choices. Read on for a list of informative tips on credit cards that can help people make better decisions when using their plastic.
Use This Advice For Better Handling Credit Cards
Credit Card Advice That Anyone Can Try If you know that someone made a charge on your card without your permission, report it as soon as possible. If you do this, your credit card company will have a good chance of tracking down the thief. This will also allow you to be sure that you aren't responsible for the charges they made. It is fairly simple to report erroneous charges, either with an email or phone call to the credit card company.
Remedy Those Credit Cards Problems With These Excellent Tips You should only open up retail credit cards if you plan on actually shopping at this store on a regular basis. When a retail store inserts an inquiry onto your credit in order to qualify you for a card, this is recorded onto your credit report regardless of whether you actually open up the card. If the number of inquiries is excessive from retail locations, your credit score might be at risk of becoming lowered.
A lot of cards have sign-up bonuses. Be certain that you have a solid understanding of the terms, because in many cases, they must be strictly followed in order for you to receive your bonus. For example, you may need to spend a specific amount within a certain period of time in order to qualify for the bonus. Be sure that you'll be able to meet the requirements before you let the bonus offer tempt you.
If you wish to get a credit card that has great rates and benefits, keep an eye on your credit score. Different credit cards are offered to those with different credit scores. Most of the time, cards with the lowest interest rates and bonus features are offered to those with the best credit scores.
If you are in the market for a bank issued credit card, look for one that offers a low interest rate. Also avoid paying annual fees. There are many options that don't have annual fees, so it is silly to choose a card that does.
Leave no blanks spaces on any credit card receipts you sign at a store. This includes putting lines or crosses on tip lines or other blank areas. When your monthly statement arrives, compare the charges with your receipts to ensure that everything matches.
If you are looking for a secure card, try to stay away from a prepaid card. These are just another form of debit cards and they are not reported for credit purposes. It's common for them to charge additional fees even though they aren't anything more than an extra checking account. Choose a secured credit card (which requires a deposit) instead. The company will report your account to the credit bureaus and benefit your credit score.
Once you close one of your credit card accounts, make sure you destroy the physical card. If you decide to throw it into a drawer or give it to your child to play with, it could end up in someone's hands, and they could use the information to reopen the account and charge up debt in your name.
A credit card that doesn't offer perks or rewards can still benefit you. People who don't wisely utilize their cards using the great advice presented here could have short-term gratification but long-term stress from large bills. Use the tips from this article so you avoid the pitfalls associated with credit cards.