Having a credit card is of great assistance in many sticky situations. Do you need to make an emergency purchase but have no cash right at hand? That?s easy to do! A credit card can make these types of purchases easier. Do you need to boost your credit score? With a credit card, it is easy! Go through this article to find out how.
TIP! Always make certain you are monitoring your credit score. Good credit is considered to be a credit score over 700.
Always check over your monthly statements for your charge cards the second you receive them. Compare the charges to your purchases and make sure they are all correct. This will ensure that you do not have any unauthorized transactions. If you notice them, they need to be reported as soon as possible so the matter can be resolved.
Many credit card companies will present you with an unsecured card after you have proven yourself with a secured card. At the same time, the offers will start coming in the mail. You will now need to re-assess your circumstances before deciding what to do next.
Fraudulent Charges
Any fraudulent charges made using your credit should be reported immediately. This will help your creditor catch the person who is using your card fraudulently. It?s also the most efficient way to limit the liability you face for the incurred charges. A simple phone call is usually all it takes to report fraudulent charges or put a hold on a stolen card.
TIP! To verify you are not paying for premium features you don?t need on your credit card, see if the card company charges an annual fee for it. Annual fees for platinum or black cards could be in the range of $100 to $1,000 depending on the exclusivity of the card.
Try negotiating the high interest rates of your credit card with the issuing company. Call them up and ask if you can have your rate lowered. A lot of the time you will find that they will help you out to keep you with them.
Anyone seeking a new charge card ought to restrict their hunt to those cards offering low interest and no annual membership fees. There are many charge cards available with no annual fee, so choose one of these to save you money.
TIP! Create a budget plan that you are able to follow. Even though you have a credit card limit your company has provided you, you shouldn?t max it out.
If you are using more than one credit card, determine how they rank in terms of APR when deciding which one to use. In general, it is a good idea to use your lowest-interest card whenever possible. The goal is to reduce your debt. If a balance must carry over, utilize the lower interest cards to help lessen the interest payments.
Credit Card
TIP! Be sure to always pay for your credit cards on time. Your credit card payments have a date that they are due by and ignoring them will cost you additional fees.
Negotiate interest rates with your credit card company. You can negotiate with the company that owns your credit card and try to get a lower interest rate. If you are a good customer with a record of making timely payments, they are likely to grant you a better APR upon request.
Try to use your credit card only when necessary. Try to use your debit card at other times. You should use your credit cards for large purchases, like big ticket electronics. However, if you?re just buying groceries, use a debit card. This will not only save you money, but will also help keep your credit card open for any larger purchases.
TIP! Check with card companies about whether they?re willing to reduce their rates. If you have a positive credit history with the company, they may be willing to reduce the interest they are charging you.
As it has been indicated, credit cards have a variety of uses. From things like boosting a credit card score, to buying things at a store, you can use a card for a number of different things. Use the information above wisely when using your card.
Filed under Credit by Alan Sawyer
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