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Credit Card Advice That Will Help You With Your Budget

Posted on December 8 2015 by Havard

Credit Card Advice That Will Help You With Your Budget



Do you use a credit card? Do you know how much credit you have total? Do you know how much additional credit you have available to you? If you are unable to answer these second two questions, then you are probably not using credit responsibly, and it is time to learn more!


Keep track of how much money you are spending when using a credit card. Small, incidental purchases can add up quickly, and it is important to know how much you have spend on them, so you can understand how much you owe. You can keep track with a check register, spreadsheet program, or even with an online option offered by many credit card companies.


Always read the terms and conditions of your card before using it. The majority of card issuers see the initial purchase as your acceptance of a card's terms. You should literally read the fine print.


Be smart with how you use your credit. Many people are in debt, due to taking on more credit than they can manage or else, they haven't used their credit responsibly. Do not apply for any more cards unless you need to and do not charge any more than you can afford.


Whenever you sign a credit card slip in any store, fill in all the spaces. If you are not giving a tip, put a mark through that space to avoid someone adding an amount there. When your credit card statements arrive, take the time to ensure all charges are correct.


It is best to stay away from charging holiday gifts and other holiday-related expenditures. If you can't afford it, either save to buy what you want or just buy less-expensive gifts. Your best friends and relatives will understand that you are on a budget. You can always ask ahead of time for a limit on gift amounts or draw names. The bonus is that you won't be spending the next year paying for this year's Christmas!


If you are going to make purchases over the Internet you need to make all of them with the same credit card. You do not want to use all of your cards to make online purchases because that will increase the chances of you becoming a victim of credit card fraud.


Students who have credit cards, should be particularly careful of what they use it for. Most students do not have a large monthly income, so it is important to spend their money carefully. Charge something on a credit card if, you are totally sure you will be able to pay your bill at the end of the month.


Many companies advertise that you can transfer balances over to them and carry a lower interest rate. This sounds appealing, but you need to carefully consider your options. Think about it. If a company consolidates a higher amount of money onto one card and then the interest rate spikes, you are going to have a hard time making that payment. Know all the terms and conditions, and be careful.


Know your credit history before applying for new cards. The new card's credit limit and interest rate will depend on how bad or good your credit history is. Avoid any surprises by getting a report on your credit from each of the three credit agencies once a year. You can get it free once per year from AnnualCreditReport.com, a government-sponsored agency.


A great tip for saving on today's high gas prices is to get a reward card from the grocery store where you do business. These days, many stores have gas stations, as well and offer discounted gas prices, if you sign up to use their customer reward cards. Sometimes, you can save up to twenty cents per gallon.


A great way to save money on credit cards is to spend the time necessary to comparison shop for cards that offer the most advantageous terms. If you have a decent credit history, it is highly likely that you can obtain cards with no annual fee, low interest rates and perhaps, even incentives such as airline miles.


Do not tell other people of the number of your credit card. Often times, people ask this information through the internet or through the phone. Do not do this if you do not know the company you're dealing with. Be weary if you're receiving unsolicited offers that require you to give out your credit card number. There are many dishonest people in the world who want your information. Be aware and keep yourself protected.


When using your credit card online, only use it at an address that begins with https:\\. The "s" indicates that this is a secure connection that will encrypt your credit card information and keep it safe. If you use your card elsewhere, hackers could get hold of your information and use it for fraudulent activity.


Secured cards are an excellent way for credit companies to weigh your credit worthiness. This type of account will usually lead to an unsecured credit account if you are diligent with your payments. Also, you may receive offers in the mail. This means it is time for you to re-evaluate your financial situation and make some good decisions about how to employ credit in the future.


Be certain you monitor card transactions carefully. If available, sign yourself up for any mobile alert program available. With a mobile alert, you are notified of any suspicious activity and are able to check into it as soon as it occurs. If you notice fraudulent activity on your account, contact the card issuer right away; if you have to, call the police.


If you feel like your credit card balances are getting out of control then get before you get to far in debt. There are many helpful services which can help such as Consumer Credit Counseling Service. CCCS is a non-profit organization that provides cost effective services to consumers who need a plan to repay their debts and get their credit score higher.


Now, you should be better prepared to use a consumer starter credit card in the proper way. When used correctly, credit cards can be a great way to simplify your life, however, when you are irresponsible with credit cards, then they can quickly get out of hand and make your life very complicated.

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