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Guidance For Credit Cardholders From People Who Know Best

Q2 2008 Credit Card Offers
credit cards
Image by jcarter
These are all of our credit card offers from April through June 2008. The first quarter letters are here:

flickr.com/photos/jcarter/2398075003/

It looks like my efforts to opt-out of the offers are paying off; we only received 13 letters this quarter, down from 30 last quarter.

Credit cards can cause a great deal of frustration. The only way you can make proper credit decisions is by following good advice. Keep reading to find great advice for making informed decisions about your credit.

If you have just turned eighteen, you might want to think twice before applying for a credit card. Though it is a common occurrence, it is best to spend time learning about the inner workings of the credit industry before you wade in. Try to experience a few other things in life before jumping into the lending and borrowing arena.

Do not apply for a new credit card before understanding all the fees and costs associated with its use, regardless of the bonuses it may provide. However, that incredibly fine print listed in your contract could come back to bite you hard. Make sure you read and understand the terms and conditions of any bonuses. The most common is that you have to spend a certain amount of money within a few months, so be sure that you will actually meet the qualifications before you are tempted by the bonus offer.

Commit to gradually reducing any debt you’ve been carrying. Paying off credit cards shows you are financially responsible and looks great on your credit report. Pay a little more than the minimum payment due each month.

Limit the number of credit cards you carry with you to one or two that you absolutely need. If you have more than two or three cards, consider which ones get the most usage. These cards usually include a gas card and one major credit card. By keeping only these regular use cards with you, you are protecting the rest of the cards from unforeseen circumstances.

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Make certain your son or daughter is ready for the responsibility before you allow them to get a credit card. Though it’s certainly difficult to tell them no, waiting until a level of maturity is established can be the best way to help your child avoid a financially devistating situation.

When you make online purchases with your credit card, always print out a copy of the sales receipt. Keep the receipt until your bill comes in and verify all charges. File a dispute with your card company if there is any discrepancy. This helps ensure that you never get overcharged for your purchases.

A common provider of credit cards is your local bank, and they should be able to help you start with your first credit card. They already have a lot of your financial information, and can often offer you a speedy approval as well as some great incentive. Another source that is excellent is a credit union in your area.

Sign each credit card as soon as you receive it, as most people don’t do this, which makes stolen cards very easy to use. Many cashiers will check to make sure there are matching signatures before finalizing the sale.

Resist the temptation to apply for more credit cards after you have enough to meet your needs. Your credit score goes down every instance you apply for a card. Most of the time, when an offer shows up in your mailbox, you should be weary of high interest rates.

Go over all monthly statements with caution. Ask yourself if all of the charges listed are correct, if any required credits been implemented, if there any unexpected or unusual charges. As long as you are prompt, your credit card company should assist with any false charges or irregularities.

As this article just went over, a lot of people get angry or disappointing when dealing with a credit card company. Using the right credit card for you needs will help you stay in control of your financial situation. Use the information presented here to help you select the right card and use it wisely.

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