Owner: Robert Garza
Group members: 1
Credit cards can be a useful tool. They allow a consumer to make a purchase and defer payment. Excessive credit card debt can be easily avoided if you learn a few simple rules in advance. Read the following article for some great credit card tips.
A lot of new credit card offers come with attractive, potentially valuable bonuses attached. Read the fine print before signing up however, because there are often many ways you could be disqualified from the bonus. A common requirement is to spend enough on the card within a short period of time. Only apply for the card if you expect to meet the level of spending needed to get the bonus.
Ensure you understand how closing an account will affect your credit score. Sometimes, closing an account can cause your credit score to decrease. Furthermore, work on keeping open the cards you have had the longest.
Take note of all your credit card expenditures, so that you are sure that you are spending within your means. It can be easy to run up a huge debt without realizing it, unless you keep tabs on how much you're spending.
Credit cards can be tied to various types of loyalty accounts. You should find a rewards program that will benefit you for regular usage of your card. If used wisely, you can end up with an extra income stream.
how do i check my credit score Be sure to watch out for changing terms. Often, credit card companies will change conditions and terms, and they do it a lot more now. Often, the changes that most affect you are buried in legal language. Read each line to see how you will be affected by these changes.
Be careful when you use credit cards online. Before entering card information online, ensure you're using a secure site. When a website is secure, your card's information is as well. Any email that asks for credit card details should be immediately deleted as these are generally fraud schemes.
Maintain a contact list that includes issuer telephone information and account numbers. Stash this is a safe place like a safe, and keep it separate from the credit cards. This list will help you make quick contact with lenders if you ever misplace your credit card or if you get mugged.
Avoid prepaid cards if you are looking to get a secured credit card. Prepaid cards are debit cards, not credit cards, so they don't affect your credit score. They do not offer any advantages over a checking account and may charge additional fees. In order to really improve your credit rating, use a secured credit card account with a company that requires a cash deposit and that reports to the major credit bureaus.
Never reveal your credit card account number over the phone to someone who has called you. Scammers commonly use this method for getting your number. Give out your number only if you are the one who made the call. Do not give them to people who call you. It doesn't matter who they say they are if you don't know the person.
Credit cards can be a great convenience and tool for building a financial history. Used properly, they are valuable assets, but when used recklessly, they can cause a world of hurt.