Information That All Credit Card Users Must Know

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Many problems can be created by wasteful spending and the overuse of credit cards. There is no need to be scared of credit cards. They are very useful when you respect them. In the following guide, you will be able to read great credit card advice.

Always review the fine print on your credit card disclosures. Make sure you know exactly what is being offered in that pre-approved credit card before you take advantage of it. It's important to know what your interest rate is and will be in the future. You should also learn of grace periods and any fees.

If you have not yet established your own credit history, a co-signer can help you get your first credit card. Co-signers can be friends, relatives or anyone with a solid credit history of their own. Be aware that they will be responsible for your balance if you fail to pay it. That can be a terrific method of acquiring a first card for credit building purposes.

If you want a credit score that is good, be sure that you're able to pay credit card payments before it's due. Your score is damaged by late payments, and that also usually includes fees that are costly. One of the best ways to save you both time and money is to set up automatic payments.

Make sure to schedule a spending budget when using your credit cards. Budget your credit just like you budget your income. Never get into the habit of seeing credit cards as extra money. Set aside a certain amount that you're willing to put on your credit card every month. Stay within your budget and pay any balance off each month.

Never sign up for a credit card without learning its interest rate. If you are applying for a new credit card, make sure that you are aware of what the rate is on that card. If you are unaware, you may end up paying far more than the initial price. If the rate is higher, you may find that you can't pay the card off every month.



Don't write your pin or password down where others can see it. Memorize your password, and never share it with anyone else. Writing down your PIN, especially if you store it with your card, can put your account in jeopardy if the information falls into the wrong hands.

Never leave a blank space when signing credit card receipts. If there is a tip line and you are not charging your gratuity, mark a line across the area to ensure nobody adds in an unauthorized amount. Additionally, it's a good idea to verify the information from all receipts with your monthly statement.

Keep a note posted in a visible spot in your house, indicating your credit card purchases. Doing so helps to visualize the total amount you have spent. By not keeping track of credit card spending, it is too easy for this to get out of hand and then being in a position of not being able to repay is very real.

If you use your credit card to make online purchases, be sure the seller is a legitimate one. Call vendor numbers to verify the company's validity. If there is no physical address on the site, avoid transacting with them.

After closing a credit card account, destroy the card completely. If you do not destroy your card, someone could find it, reopen your account, and build up a huge amount of debt using your name.

Any credit cards that you have that you do not use, 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.

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. This article is loaded with advice to help consumers make wise decisions when using their credit cards.

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