Credit Card Tips

[minisoji]

Credit Card Tips



Credit cards can be helpful in emergencies or if you are able to pay off the balance each month, but be wary! Credit cards can also get you into trouble. Here are some helpful hints on using credit cards:

Fees

1.Watch out for carrying balances. Some cards charge 20% or more in interest. (Interest is usually called "finance charges" on your statements.)

2.Fixed rates aren't always fixed! A credit card company can change the rate by informing you 15 days before changing the rate.

3.Look at your statement carefully and call the company right away if you have any questions.

4.There is usually a large finance charge for cash advances and interest begins accruing as soon as you take the money out, not after the next statement closing.

5. Be aware of annual fees. Many times you are charged $50 or more just to have the card.

6.Watch out for introductory offers! When you receive a credit card offer in the mail with a low rate, it may expire in three or six months. Note when and by how much the rate increases after the "introductory offer" expires. You may not remember when it expires, but the card company will.
7.Think about your purchases. If you are not able to afford the purchase now, chances are you won't be able to afford it in a month when the credit card bill comes in!

If you get behind

1.Cut your recreational expenses.
2.Call your credit card company. They may be willing to work out a repayment schedule with you.
3.Develop a budget and stick to it! Everyone makes mistakes, but credit will follow you and hurt your eligibility for mortgages or loans down the road.
4. Look into credit counseling services. Many offer educational programs or individual counseling sessions to help you get back on track.


Keywords: using credit cards, credit cards tips, credit cards care, banking, online banking

[randyorton]

Hi
Secured credit cards are also great for individuals having poor or bad credit due to having no credit. The prepaid cards are treated as new credit and when paid on time, will turn bad credit scores into good scores. If you have bad credit or no credit, look for credit cards designed for poor credit but with good terms. In spite of having no credit or poor credit, there are still many credit cards offering new credit with low APR and special offers.

[katrina113]

only only tip i have for anyone swho has a credit card, pay your full closing balance to avoid interest! aND IF u struggle to do that look at your low rate options or personal loans to pay them out, sometimes on a personal loan the rate maybe 1% higher but it gives u a structured payment plan and it wont get on top over u and much easier to handle. that and provided u cut the casrd up it will stop u getting into more debt/

[sasajovanovic]

Thanks! Grat tips!!! :D

[mandukam]

Nice Article. Informative . Keep posting

[Baits32]

yeah just keep it personall i think it will save ur alot of money ;)

[cfarrell]

When you get your credit card, sign up for direct debit at the same time, to ensure that you pay it off in full each month.

That way you avoid interest charges, and help ensure that you won't buy stuff that you can't afford to pay for by the end of the month.

Also, many credit cards give you points or rewards. Worth checking around before signing up for one.

[haredim]

thank for the good tips.

[Herry00]

Thanks a lot for sharing such a great information.

[minisoji]

How to Get a Credit Card if You Have Bad Credit

Instructions

Apply for credit cards at smaller retail stores. Sometimes these companies are more willing to give you a chance. If your application is accepted, make a small purchase and pay at least the minimum payment every month and on time. (If you pay more than the minimum payment, you won't pay as much in interest charges.)

Go to your bank, savings institution or credit union. If they already have your business, they may be more willing to give you a credit card.

Apply for a secured credit card if all else fails. You will be required to open and maintain a savings account as security for your line of credit. Your credit line will be a percentage of your deposit.


Ask a friend or family member to co-sign for a credit card. Remember that their credit counts as well, so choose someone with good credit. If you can't pay back the loan, they must, and it will appear as a blemish on their credit rating.

Tips & Warnings

* While you are trying to get a credit card, keep paying all your other bills on time.

* Once you get a credit card, you'll start getting offers for other cards in the mail. Be wise: You should have no more than three credit cards - one or two with a small credit limit and one with a larger limit for emergencies.

* Don't get a credit card from a single store or chain of stores. Use Visa, MasterCard, Discover or American Express, as these are widely accepted.

* Do not get a credit card that has an annual fee. There are lots of credit cards available that don't charge annual fees.

* If you are denied credit, by law the issuing company has to tell you why. Request a copy of your credit report to see what is in it.

* Don't overspend. Use your credit cards to your advantage. Only buy something that you can pay for in cash. This will keep you from buying more than you can afford.

* Many credit cards carry interest rates of 18 to 21 percent. If you cannot pay off your balance every month, you are spending more than you can afford and need to stop using your credit card until you can pay off the balance.

* Credit card interest is not tax deductible.

Keywords: Money, finance, banks, saving, invest, mutual fund, ATM, credit card, Joint Credit Card Debt, Cancel a Credit Card Payment