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Considering Credit Cards? Learn Important Tips Here!

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spotted on Facebook: “Occupy your credit card”
credit cards
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Credit cards can be helpful in a variety of situations. Need to buy something but your wallet is empty of cash? Not a problem! This situation can be resolved with a credit card. Are you attempting to build a good credit score? It is simple with a credit card! Keep reading this article for great ways you can make use of a credit card.

Make sure you can afford everything you buy with a credit card. It’s fine to use credit cards to stretch out the payments for an item you can afford, but refrain from making a major purchase that you couldn’t afford otherwise.

Never pay upfront fees to get a new credit card, unless the money is being used for your secured credit card. No credit card company that is legit will ask for a fee upfront. You should also avoid giving someone money to assist you in finding a credit card. If you have an excellent credit history, you won’t need any help to get approved for credit.

Only inquire in regards to opening retail cards if you seriously shop at that store regularly. When retail stores put in an inquiry on your credit to qualify you for a card, it gets recorded on your credit report whether you open the card or not. An excessive amount of inquiries from retail stores on your credit report can actually lower your credit score.

Credit cards are frequently tied to reward programs that can benefit the card holder quite a bit. You should find a rewards program that will benefit you for regular usage of your card. If you avoid over-extending your credit and pay your balance monthly, you can end up ahead financially.

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Many credit card offers include substantial bonuses when you open a new account. These bonuses are often conditional, though. You need to review all of the documentation that comes with a bonus offer thoroughly before you sign up. One of the typical conditions placed on a credit card bonus is a requirement that you use the card to make a fixed amount of purchases within a given time frame. A bonus offer that you do not want to claim is not a very tempting one!

Never rely on credit to buy purchases that you cannot afford. Even though you really want that new flat-screen television, credit cards are not necessarily the smartest way to purchase it. If you cannot pay the charges off at the end of the month, you will pay a lot of interest and may run the risk of not being able to afford the monthly payments. Exit the store and mull over your purchase for a couple of days before making your final decision. If you still want the item, see if the store offers in house financing with better rates.

Have a list you keep of all your credit card accounts by number as well as the lender’s contact numbers. Keep your list in a safe place that is separate from your cards. Use this list to contact your credit card issuers if your credit cards are ever lost or stolen.

If you are not using a credit card, close that account. Keeping them open exposes you to fraudulent activity. It is also possible that annual fees will be charged when you keep open any credit card account that you do not use or need.

Now you know of the many ways a credit card can be used. They have multiple uses, from purchasing items in a checkout line to boosting someone’s credit score. Take this advice to heart as you utilize your card.