Consumers today can use a lot of help when it comes to keeping their financial situation in good order, this is certainly true when it comes to managing credit cards. Credit can be a great boon to a financial plan, but they can also be very dangerous. Continue reading to find excellent tips regarding the best use of credit cards.
Exercise some caution before you start the process of applying for a credit card offered by a retail store. If a retail store inquires on your credit, the inquiry will affect your credit score, even if you do not open the card. Too many inquiries can make your credit score go down.
If you see a charge on your card that isn’t yours, talk to your credit card issuer immediately. By doing this, you will help the card company to catch the person responsible. This will help ensure you are not liable for any fraudulent charges against the card. If you suspect fraudulent charges, immediately notify the company your credit card is through.
You want to stay away from both late fees and over the limit ones. These fees can be very expensive and both will have a negative impact on your credit score. Monitor things closely, and never exceed your personal limit.
Never use a password or pin code for your credit card that is really easy for people to figure out. You don’t want anyone who can go through your trash to easily figure out your code, so avoiding things like birthdays, middle names and your kids’ names is definitely wise.
Retain a sales receipt when making online purchases with your card. Keep receipts until you can verify the store that sold you the item charged you the same amount that you are charged on your credit card. If any charges are incorrect, you should immediately file a dispute. This will ensure that you aren’t wrongly overcharged.
In conclusion, consumers often fall victim to the negative effects of credit cards, such as high interest rates. This article has covered the best methods for utilizing credit cards. It would be great if you apply what you have read to your everyday life.
