|
Don't let the fear of credit cards stop you from improving your score, buying the things you need or want. There are proper ways to use credit cards, and when done correctly, they can make your life better instead of worse. This article is going to show you just how to do it. Make sure that you pore over your credit card statement each and every month, to make sure that every single charge on your bill has been authorized by you. Many people fail to do this and it is much harder to fight fraudulent charges after a lot of time has passed. Make friends with your credit card issuer. Most major credit card issuers have a Facebook page. They might offer perks for those that "friend" them. They also use the forum to address customer complaints, so it is to your advantage to add your credit card company to your friend list. This applies, even if you don't like them very much! Don't use passwords and pins for your cards that can be simply figured out by someone else. It's a bad idea to use a common password like a middle name or phone number since people could guess these. One important tip for all credit card users is to make a budget. Having a budget is a great way to figure out whether or not you can afford to buy something. If you can't afford it, charging something to your credit card is just a recipe for disaster. Try setting up a monthly, automatic payment for your credit cards, in order to avoid late fees. The amount you need for your payment can be automatically withdrawn from your bank account and it will take the worry out of getting your monthly payment in on time. It can also save money on stamps! Most analysts state that a credit limit should be no greater than 75% of a monthly salary. If your balances exceed one month's pay, try to repay them as quickly as possible. If you don't the interest you pay could quickly get out of control. If you have bad credit, think about getting a credit card that is secured. These cards require you to have a balance to use as collateral. Essentially, you're borrowing your money and then paying interest on the privilege itself. It isn't the best, but it can help to repair bad credit. Stick with good companies that have a reputation when you apply for a credit card. You may be able to obtain unsecured cards in the future, thereby improving your credit history that much more. Never close the account. It may be the initial reaction when you want to preserve the score of your credit, but it will actually have the opposite effect by making your score worse. The fewer accounts you have open, the less total credit you have available, which means you will owe more as a proportion of your credit limit. Credit Reports Know your complete financial situation before you apply for credit cards. Get copies associated to your credit report to get accurate data in order to project your possibilities. Contact the company in writing if there are any claims that are not correct. Also, look at negative marks that are true and see if you can correct them. You have read a lot here today about how to avoid common mistakes with credit cards, and also the best ways to use them wisely. Although there is a lot of information to learn and remember, this is a good starting point for making the best financial decisions that you can. Despite the fact that personal bankruptcy and credit counseling are alternatives for becoming out of debt, debt settlement may well be considered a greater alternative for you. You actually owe it to oneself to take a look at how it functions and just how much you are able to save prior to undertaking anything. Have a look at: http://www.helpwithdebtsettlement.com Learn why your credit scores matters!
Related Articles -
credit reports, credit scores, personal finance, money, finance, debt, credit,
| 
