Irresponsible credit card usage often teaches consumers lessons about overspending, borrowing too much money and the frustration of higher interest rates. If used the right way, credit cards can be very beneficial. To find the advantages associated to credit cards, read this guide for more information.
It’s good credit practice to consistently maintain two or three open credit cards. This can build up a credit score, and this is especially true if you’re able to pay them monthly. Keep in mind though that if you have more cards than three, this could have a negative effect on your credit score.
Retail credit card accounts should only be opened at stores that you will be shopping in quite frequently. When a retail store inserts an inquiry onto your credit in order to qualify you for a card, this is recorded onto your credit report regardless of whether you actually open up the card. Repeated applications for credit could negatively affect your overall credit score.
As you fill out a credit card receipt, make sure to put something in every space. Mark up the line for the tip, so that no one can later put an amount on it. Carefully check your statements to assure your purchases match the amount on your statement.
Never, ever use your credit card to make a purchase on a public computer. Your information may be stored and retrieved from computers in coffee shops, the library, etc. If you use these types of computers, you are setting yourself up. Only use your personal computer to make purchases.
When signing a credit receipt at a store or restaurant, don’t leave anything blank. If there is a tip line and you are not charging your gratuity, mark a line across the area to ensure nobody adds in an unauthorized amount. When your credit card statements arrive, take the time to ensure all charges are correct.
It is normal for the daily mail to contain an unsolicited offer or two for credit card sign ups and the mass of information can be quite mind-boggling. Understanding credit, and making the right choices, both become easier in time. This article should give consumers the information needed to make smart decisions with credit cards.
