Because of problems that can occur with credit cards, many people are scared to get one. There is no reason to be afraid of having a credit card. Credit cards can be helpful when you need to purchase items but don't want to use cash. In the article that follows you can find advice that will help you with credit cards.
List your credit card numbers and the contact information associated with each of them. Store credit info safely - do not leave it in your wallet or purse. By doing this, if your wallet or bag is stolen, you will be able to quickly contact your credit card providers and report your credit cards as missing. It's key to report lost cards early so you don't need to pay for charges you didn't make.
Never send credit card numbers via fax. Faxes may sit in an accessible area for a lengthy period of time, giving many people the ability to see to your number. Your credit card number could very easily be stolen. Although many credit cards will cover the costs associated with fraudulent use, it can take time to resolve.
Only use credit cards when it is necessary. Use your debit card at all other times. Save your credit card purchases for big ticket items such as a computer or television. However, if you're just buying groceries, use a debit card. This saves you money.
Use pass codes and pins that are hard for people to decipher. It is a terrible idea to use things like middle names, birthdays and children's names because anyone can learn that information.
Before providing your child with a credit card, make sure that he or she is responsible enough to have one. While it might be difficult to consider your child too immature for a credit card, it will likely lead to much better spending habits down the road.
Take note of all your credit card expenditures, so that you are sure that you are spending within your means. It is easy to loose track of the money you spend when you use your card unless you make a commitment to keep track in a note book or spreadsheet.
While you may be a little tempted to purchase most things with a credit card, small purchases should be avoided if you can. Some merchants have minimum purchase amounts for shoppers using credit cards, and therefor,e you may end up buying things you do not need. Do not use a credit card for anything costing less than ten dollars.
Ensure you are making your monthly card payment on the due date. Late payments often result in a significant penalty charge. This fee could be as high $25, even if you are only one day late making your payment. If you pay many late payments, your fee can grow larger and larger.
Never close your accounts. While you may think a closed account will lead to a credit score rise, this is, in fact, incorrect. The reason is due to the fact that you're subtracting from the credit amount that you have. This lowers your ratio between your credit and the amount you owe.
Do not carry any cards with you that you do not use daily. You might have multiple cards, but you should only carry the ones you use regularly. A credit card for everyday charges and a card that you use for gas should be more than enough. Carry them with you and leave the others at home.
If you ever misplace or lose your credit card, remember to call your credit card provider right away. When you do this you save yourself by making your card invalid so no one can use it. Your credit card company will immediately issue you a new credit card and number.
The advice in this article will help anyone fearful of getting their first credit card. If you use a credit card responsibly it can actually be extremely useful. Just remember this article's suggestions and you'll be alright.
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