Sunday, November 23, 2008

General Tips on Credit Cards

Credit card or plastic money is ubiquitous today. Today they are treated as more than of a necessity than just a commodity. Thus it is indispensable that you not only utilize them properly but also take proper care of them. The following listing is a digest of some tips on credit card management:

1. Never chose a peculiar credit card because your friend or person else have chosen it. Instead basal it on your needs.

2. Compare assorted credit cards before arriving at the right 1 for you.

3. Always mark at the dorsum of your credit card, as soon as you have it. This is an of import credit card protection mechanism.

4. Protect sensitive information/details about your credit card e.g. PIN. Never uncover the inside information to anyone.

5. Destroy any mails containing such as the inside information about your credit cards. Fraudsters might be scanning your garbage for such as information.

6. Bash not share your credit card with friends, household and others. Apply for supplementary cards if you necessitate one for your household etc.

7. Never use more than than 75% of your credit limit. This volition aid in containing your credit card debt and also in maintaining a good credit rating.

8. Be on time in your payments. If you haven’t received your monthly bill, enquire with your credit card supplier. Non-payments and late payments maculate your credit rating.

9. Never allow your credit card travel out of your sight.

10. There is no magic wand for debt elimination. So return measurements for getting out of your credit card debt. This includes things like controlling your credit card usage, using cash on some occasions, debt consolidation etc.

11. In lawsuit your credit card gets lost or is stolen. Immediately inform (call) your credit card provider to get it invalidated. Keep this phone number separate from your credit card.

12. Be on time in advising the change of computer address to your credit card supplier.

13. Be aware of assorted offers / dismisses that accompany your credit card. You never cognize when one might turn out utile to you.

14. Bash not error credit card for free money or a lottery. Remember that you will have got to pay for it. So always lodge to your budget.

15. Check if one of the particular credit cards e.g. student credit card, small business credit card is better for you.

16. Always read all the instruction manual supplied with your credit card especially the 1s related to fee/commissions etc.

17. Deliver rank rewards in time. Don’t allow the points get expired. Never go forth them unutilized when shutting your credit card account.

18. Take professional advice if you are too deep into credit card debt.

19. Never get lured by all the free offers on your credit card and end up disbursement thousands of vaulting horses just to recognize later that you can’t actually pay it back in time.

20. Never apply for too many credit cards just for manner sake. Even you don’t usage them you might still be paying annual fees and them and moreover why maintain something you don’t need.

No comments: