Credit cards are helpful tools in building credit and managing money. Understanding the terms of each card is key, so that people can make good choices. This is a listing of top credit tips to help make great credit choices.
Discuss your interest rate with your credit card company. Many times you can call the company and request a lower rate. If you have made all your payments on time and have proven to be a good customer, chances are they will give you a lower APR if you ask.
Credit Card
The credit card company should be contacted the very minute that you find that you have misplaced your credit card. Most credit card companies these days make you only responsible for the first $50 of unauthorized charges made by a thief, but it is wise to get them involved immediately, no matter what.
Any card that offers the ability to have your photo on the front of the card is a card you want in your wallet. Even though it might cost you more up front, it could save you a lot of money and red tape in the long run by providing you a more secure card.
Know your complete financial situation before you apply for bank cards. It’s best to know what your options are by knowing what your credit report looks like. Dispute any information that is not correct. You should also look to correct any outstanding debt you have. If there’s something negative on your report, turn it into a positive.
Create a budget that is not impossible to adhere to. Just because there are limits on your card, does not mean you can max them out. Be aware of what you are capable of paying and stay within that limit for healthier finances and to avoid high interest payments.
Credit Card
The Fair Credit Billing Act is something that you should have a good understanding of. This act helps consumers by preventing financial obligation of unauthorized credit card charges. If you take the time to learn a bit about it, the act can be a powerful shield protecting you from credit card fraud. Sometimes credit companies try to hold card holders responsible when they should not be, and this is when this law applies.
Credit card companies calculate their minimum payments so that you can pay a small amount and let them earn a large amount of interest from you over time. Always pay as much as possible in excess of the minimum payment. Don’t get stuck paying high interest.
All of us have been there. You receive yet another credit card offer in the mail. There are times that you may be looking for a credit offer, but more frequently it is unwelcome. When you toss this kind of mail, shred it or tear it up. Don’t throw it out without taking this step because your personal information may be on the credit card offer.
See if your credit card issuer is willing to lower your interest rate. There are plenty of creditors who will lower interest rates if the consumer has established a good history of on time payments. There is no fee to ask, and if it works, you will be saving a lot of money.
If a late fee appears on your statement, make a quick call to your lender. Sometimes they will make a one-time exception to the fee. In response to being a good customer, your fee may be waived.
As said earlier, charge cards can be good and they can be bad. They can help to build a good credit score, but they can also get you in trouble. It is important that you understand everything about your cards, because that will lead you to make better decisions where they are involved. Knowing what to expect from having a credit card will help you make better choices.
Article By Your Debt Relief Company