Tips On How To Properly Use Charge Cards


Bank cards have already been in circulation for a long time. It can be hard to manage charge cards without some knowledge or helpful advice. If you want to learn more about how to use credit appropriately, read this article.

TIP! Do not close any credit card accounts without finding out how it affects your credit report. There’s times when you close a card that can have negative affects on your next credit report.

Don’t use cards to buy items you could never afford. It is okay to buy something you know you can pay for shortly, but anything you are not sure about should be avoided.

Keeping several lines of credit open is helpful to your credit profile. This can help you to build a credit history and improve your credit score, as long as you are sensible with the use of these cards. Having more than three open helps lenders look at you in a bad light when they see your credit report.

Fraudulent Charges

Report any fraudulent charges on your credit cards right away. This will give the company a greater possibility of catching the perpetrator. Also, by notifying the credit card company immediately, you can ensure that you aren’t in any way responsible for the charges. Fraudulent charges can usually be reported by making a phone call or sending an email to the credit card company.

TIP! Never rely on credit to buy purchases that you cannot afford. For example, a credit card should not be used to purchase a luxury item you want that you cannot afford.

The moment you receive a letter or email regarding your credit card, be sure to read it right then. Written notice is all that is required of credit card companies before they change your fees or interest rates. If you are not in agreement, you have the freedom to cancel your card.

Keep your receipt when making purchases online. Keep such receipts until your bill arrives so that you can verify the accuracy of the amount charged. If that is not the case, get in touch with the company and dispute the charge right away. By keeping up with your payments and receipts, you’re ensuring that you won’t miss an overcharge somewhere.

TIP! Do not lend other people your credit card for any reason. No matter who it is, it is never a good idea.

Keep yourself updated on the status of your credit score. The benchmark score which is considered good by lenders is 700 or above. Strive to maintain or reach that level by using your credit properly. If you can accomplish getting a score of seven hundred or more, you will get better rates on loans and charge cards.

Create a list of your credit cards, including the account number and emergency contact number for each one. Maintain it in a secure place, like a safe, and keep it separated from your cards. This list will help you make quick contact with lenders if you ever misplace your credit card or if you get mugged.

Credit Card

Never believe that a credit card’s interest rate is fixed. The credit card business is a competition. Therefore, all card companies have varying interest rates they can utilize. Call your bank if you don’t like your current interest rate. Ask the bank to change your rate.

TIP! Try to keep your credit card accounts open for a long period of time. You should refrain from switching to another credit card account unless it is unavoidable situation.

Never close your accounts. You may think that closing accounts is a good idea, but it can actually harm your credit. When you close an account, the amount of overall credit you have is lowered, and this could make your current lending ratio percentage higher.

A good tip for every credit card user is to request a free copy of your credit report each year and make sure that that everything is accurate. Be certain that your report matches up with the statements you have.

TIP! Know what recent credit card laws have been created recently. For example, no credit card company can impose a retroactive rate increase on you.

Make sure that you are honest about your income when applying for a bank credit card. Some companies do not verify your income and they will give you a card with a higher limit, which may result in you charging more than you can afford to pay back.

Mobile Alerts

TIP! If you have more than one credit card, it is wise to pay at least one off each month. Even if you have quite a bit of debt on the others, having an active card that’s paid in full each month can help better your credit.

Check your card transactions frequently for false charges. Sign up to receive mobile alerts if they are offered by your provider. With mobile alerts, you can immediately look into questionable charges. If you ever see something that looks suspicious, don’t be afraid to put a call in to your lender or even the local police.

One subtle trick you can use to avoid making unintentional credit card charges is to place your debit cards in front of your credit cards in your wallet. This way, you’re likely to spend your debit card funds on those impulsive purchases and you won’t need to pay interest on them.

TIP! If you are thinking about doing a balance transfer or taking advantage of a low introductory rate, always be sure to read all the fine print. Make sure you understand what will happen after the initial low interest period.

Review all the credit card accounts you have and think about closing those that you do not use. Closure of old accounts makes it less likely that they will be used fraudulently. You may also close accounts you just don’t want anymore, even if they have a balance. You will, however, be responsible for paying off the remaining balance on the card.

Credit Card

TIP! Keep your credit card in your purse or wallet when your purchase is small, no matter how tempted you are. Some merchants have minimum purchase amounts for shoppers using credit cards, and therefor,e you may end up buying things you do not need.

As discussed previously, frustration and confusion can often come with attempting to understand your credit card accounts. However, if you have the correct knowledge, living with charge cards isn’t all that difficult. Follow this article to have better credit card luck.