It is easy to become overwhelmed by the barrage of credit card applications arriving in your mailbox every day. Many credit cards offer such things as minimal interest rates, credit in spite of not-so-stellar credit rates, or rewards like frequent flyer miles. What is a consumer to do? Use the information in this article to get help in understanding what you have to know about these cards.
If a fraudulent charge appears on the credit card, let the company know straightaway. By doing so you give the credit card company the best chance of catching the thief. This will help ensure you are not liable for any fraudulent charges against the card. Fraudulent charges could be reported through a phone call or through email to your card provider.
Keep up with your credit card purchases, so you do not overspend. It does not take much to let your spending get out of control, so commit to recording your spending in a spreadsheet or on paper.
Always read the fine print to see if there’s an annual fee before accepting an exclusive credit card. Premium credit cards can have annual fees anywhere from the $100’s to the $1000’s. If you do not require a card like this, choose a card with lower or no fees.
Set a credit card budget. Budget your credit just like you budget your income. Credit cards should not be viewed as “extra” money. Set aside an amount of money that you can pay each month on your credit cards, and follow through each month with the payment. Adhere to your budget, and pay the balance off every month.
Always pay off credit cards on time. Neglecting your credit card’s due date can result in late charges for you. In addition, most credit card companies will raise your interest rate, meaning all of your future purchases will cost you more.
Never use a public computer for online purchases. Your card information will be on these computers, such as the ones in the public library or in coffee shops. If you use these types of computers, you are setting yourself up. Make sure that all purchases are made on your computer, always.
Never write your pin number or your password down under any circumstances. Memorizing your PIN or password is essential, and it helps to ensure that only you can access your account. Writing your pin number down increases the chance that someone else uses it.
Before you get something online with a credit card, be sure that you can trust the seller. Check to see if the company has posted a physical address on the site for their operations. You might also want to call phone numbers listed on the website to verify they are still active.
If you aren’t satisfied with you current interest rates, ask your creditor to lower them. If they refuse to do this, try looking for cards at a different company. When you discover one, switch to a company that will serve you better.
If you’re not able to pay back something on a credit card bill, you may damage your credit rating. If this happens, it could make it hard for you to rent an apartment, get insured, finance a car or even get a job.
Do not fax your credit card number to anyone. Incoming faxes can sit in a holding bin forever, leaving your credit card data vulnerable to anybody who happens to walk by. It is possible that one of those individuals has bad intentions. Although many credit cards will cover the costs associated with fraudulent use, it can take time to resolve.
When leaving the house, just bring the credit cards you frequently use. You might have five cards or more, but consider which of those cards you use most frequently. Usually, this will include a gas card and one major credit card. Keep these on you and have the rest in a safe spot in your house.
If you want to hold onto your credit cards, use them. Inactive accounts are usually closed by most creditors. Use your cards frequently to ensure that your accounts will not be closed. Don’t forget to make payments in full so that you can avoid being in debt.
Keep an eye on your credit score and credit report to get an idea of how you are managing your accounts. It is a great way to see how others handle your accounts as well. Make sure you notice if there is a credit reporting error. If there is one, contact both the credit card company as well as disputing the error with the credit bureau.
Be sure to immediately notify your credit card company of a lost or stolen card. If thieves use your card before you call to report it as missing, you could be held liable for the charges. Once you have reported a card stolen, legally you cannot be liable for any further charges made on the card.
If you’re traveling, especially internationally, bring at least two credit cards. Make sure those cards are from two different banks. If you run into trouble trying to use one of your cards, the same difficulties will likely turn up using another card issued by the same company. If you have cards from several banks, you can still access credit if one has a problem.
Make sure to understand whether your credit card payment due date is a true due date, or a suggested due date. A lot of credit card companies now post suggested due dates along with actual due dates. If your statement offers a suggested date, it can help you to know what the actual due date is, just in case you’ll need some extra time to make a payment.
When consumers open their mailbox, they see many credit card offers. Sorting through these is hard. With just a bit of research and knowledge, it is easier to understand and accept the right credit cards. Read this article’s advice to learn about good credit decisions.