Charge cards are helpful when it comes to buying things over the Internet or at other times when cash is not handy. If you need some advice on how to use credit cards responsibly, the following tips can offer you some guidelines.
Never charge items on bank cards that cost far more than you have to spend. While it’s fine to use your card to purchase an item you can pay for later, it is not a good idea to purchase something you will have trouble paying down the line.
It is wise to have two or three different charge cards available for your use. This is especially helpful when building a good credit score, but remember these cards should be paid in full monthly. Keep in mind though that if you have more cards than three, this could have a negative effect on your credit score.
If you know that someone made a charge on your card without your permission, report it as soon as possible. The earlier the credit card issuer knows, the better chance they have of stopping the thief. This is also the best way to make sure that you are not held responsible for these charges. Fraudulent charges can usually be reported by making a phone call or sending an email to the credit card company.
Always read the fine print to see if there’s an annual fee before accepting an exclusive credit card. Platinum and black cars charge very high fees normally, that can range from one hundred dollars all the way up to one thousand dollars. More exclusive cards have higher fees. If you don’t care about exclusivity, these cards aren’t for you.
Public computers should never be used to buy items with your credit card. These computers will store your information. This makes it easier to steal your account. Entering your information on them is bound to cause you trouble. You should only shop online from a computer that you own.
No matter how tempting, never loan anyone your credit card. Even though a good friend might have a need, it is never a good decision to lend it to anyone. You could be struck with expensive over-limit charges by your credit card provider if your friend accidentally overspends.
Your credit report should be looked at every year. You can request a copy for free once a year. Be certain that your report matches up with the statements you have.
Many people mistakenly decide not to get charge cards so it looks like they have no debt. It’s important to have one credit card, at least, in order to build credit. Use this and pay it off every month. By having no credit, you will lower your credit score and prospective lenders will not be able to determine that you know how to manage debt.
If you’re not able to pay back something on a credit card bill, you may damage your credit rating. If your credit becomes damages it may be hard to get a job, rent an apartment, get insurance or finance a car.
Never fax credit card numbers. Faxes can remain in the office of a recipient for hours or days, which gives their entire office access to your personal credit card number. Anyone who views this fax could use your information to steal from you. You are then susceptible to fraudulent charges and a whole host of other dilemmas.
Bank cards that you’re not using should be closed. You may be a target of identity thieves if you keep an unused credit card account open. Some credit card companies charge an annual fee even if you are not making any charges against your account.
Do not get a credit card with an annual fee if you have any other options. Usually, no annual fees cards are offered to those with better credit scores. Annual fees can make any rewards you earn not worth it. Therefore, it is important to weigh the pros and cons before applying for a credit card with an annual fee. Credit card companies do not boast about their annual fees, and you often need to read the fine print in order to locate them. If you need to, use your reading glasses. You’re going to want to check closely to look at if the fees are worth the benefits. Most of the time they don’t.
It is hoped that you have learned some valuable information in this article. We must remain diligent about spending, because sometimes we do not realize we have overspent until our card balance is beyond our ability to pay. Take in all of the information here so you can heighten the benefits of having charge cards and cut down on the risk.