Let’s face it, in today’s society, consumers need all the advice they can get on managing their finances and avoiding the pitfalls presented by over-spending! Charge cards are a huge liability that can wreak havoc on your finances. This article will demonstrate how to use charge cards.
It is a smart idea to have more then one credit card. This will help you build one’s credit score, particularly if you pay your cards in full monthly. However, if you do open more than 3 accounts, a lender may think that’s no good when looking at your personal credit bureau report.
You want to stay away from both late fees and over limit fees. Both are expensive fees and going over your limit will also hurt your credit score. Be sure to never spend above the limit on your credit limit.
Be sure to study your credit card account before using it. Although the print may be small, it is very important to thoroughly read all sections.
Make sure you completely understand your credit card terms before signing up for the card. Read every word of the fine print to be sure that you completely comprehend the card policy completely.
Never use a password or pin codes on credit card that is really easy to figure out. Using something like your initials, middle name or your child’s name can be problematic, as it is not difficult for others to find out that information.
Don’t make a written record of your credit card’s PIN or pin number. You need to just remember your password is so that other people can’t access it.
Keep yourself updated on your credit score. Most creditors think of 700 as the cut off limit for determining a good credit score. Use your credit wisely to maintain that level, or if you are not there, use this method to reach this level. Once your score hits 700 or above, you …