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Saturday, 11-May-2013 00:28 Email | Share | | Bookmark
The Most Important Credit Card Information Around

Many people have used credit cards ever since they can remember. Like almost anything, it is hard to handle credit cards without being educated about them. The following article has tips for those looking to become better informed about credit cards.

If you do not own a locking mailbox, never order credit cards through the mail. Credit card thieves have admitted to taking cards out of mailboxes that were unlocked.

Never leave a blank space when signing credit card receipts. Draw a pen line through the "tip" area, so that an employee cannot write something in the space and give themselves a tip. Additionally, check your credit statements to ensure that the recorded purchases match your expectations and your receipts.

To cut your interest payments, do not hesitate to phone your credit companies and ask for better interest rates. If you have a good payment history with your creditor, you might be able to get better interest rates. A phone call could be all you need to do to get a good rate in which you would be able to save money.

Never write your pin number or your password down under any circumstances. The safest place for this information is in your memory, where nobody else can access it. If you write down these passwords or pins, you could potentially give someone who you do not want to have access to your accounts an open door to them.

Never, ever, under any circumstance lend out your credit card to someone. Even if a close friend needs to use one, don't do it. That can lead to charges for over-limit spending, should your friend charge more than you've authorized.

Keep tabs on your credit score. Good credit typically starts around the 700 range. Use your credit wisely to maintain that level, or if you are not there, to reach that level. If you can accomplish getting a score of seven hundred or more, you will get better rates on loans and credit cards.

Never give out a credit card number over the phone if someone else initiates the request. This is something most scammers do. If you must use your credit card over the telephone, only do so with companies you know you can trust. Never provide your numbers to people who make the call to you. No matter who a caller says they represent, you cannot trust them.

All of us have been there. Another credit card promotional letter arrives in your mail telling you that you need to apply for a new credit card. Sometimes you are in the market for one, and often times you may not be. Always shred any credit card offer that comes through the mail. Many credit card offers have a great deal of sensitive personal information in them, so they should not be thrown out unopened.

Never believe that a credit card's interest rate is fixed. Card companies use different interest rates for competition purposes. If your interest rate is higher than you would like it to be, make a call and ask the bank to reduce it.

A lot of experts think that you shouldn't have a maximum limit on a credit card that's more than 75% of what you make a month. If you have a limit higher than a month's salary, you should work on paying it off immediately. If you don't the interest you pay could quickly get out of control.

As stated previously, credit cards are a constant source of fear and frustration. Luckily, with the ideas you read here, you have all of the tricks you need to start balancing your accounts. Use the information you learned here to help you make better credit card decisions.


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