credit card usage
We all know about all the good things that can happen to a person with a credit card. Shopping whenever you want to and roam around without having to carry any cash is a great feeling. But credit cards also have their vices. You can end up spending more than you can afford that can eventually lead to the failure of paying back. You can also fall victim to credit card theft which is pretty common. But, if you follow what I am about to offer here, you can maximize on the positives and minimize the negatives of using a credit card.
credit card usage
Know everything about the Card
Before signing up with a credit card company, make sure that you read and understand every detail written on the terms and conditions. In many cases it might happen that, the feature that seems most attractive to you is a promotion and only on offer for a short span of time. You should also inquire about the interest rate that you will have to pay and the penalties for failing to pay on time.
credit card usage
Keep your PIN Safe
Some of us like to keep the PIN (Personal Identification Number) number along with the credit card. This happens mostly to the people with multiple credit cards. It gets tough to remember so many numbers, so it seems like an easy option to keep the PIN with the card. But you must stop doing that. Imagine what could happen to you if you were to lose your card along with the PIN. God forbid, if it falls in wrong hands, you will be buried neck down in debt before you can call up your credit company and report it.
credit card usage
Avoid using Multiple Cards
It is advisable to use as few cards as possible. Doing so, you can keep track of your expenditure and keep it under control. You can also track down any foul play happening to your cards especially by the identity thieves. So do extensive research on all the credit card offers and go for the one that caters to your needs best.
credit card usage
Protect your Account Number
Never share your account number and credit card numbers with anyone. Remember, your credit card details in wrong hands can do you great harm.
credit card usage
Keep your Receipts
Once you have made a transaction using your credit card, keep the money receipt. When you get the bill at the end of the month crosscheck the expense to find out if you are charged extra.
credit card usage
Know your Card
Know everything there is to know about your credit card. Look for things like when to pay the bill, how to play the bill, the discounts and the penalties can save you a lot of money.
credit card usage
Report a Lost Card
After you lose your credit card, report to your credit card company as soon as you can so that they can deactivate the card and stop any misuse immediately.
credit card usage
Take care of unnecessary Accounts
If you have accounts that you have left unused for a long time, close them. Get rid of the credit cards you have against those accounts.
If you follow the tips I just laid down, I am sure that you won’t get into trouble with your credit cards.
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