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Tips On How To Use Your Credit Cards

First time I’ve seen this: Whitlow’s in Clarendon now has a limit of 2 credit cards per check.
credit cards
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Many people are cautious about credit card spending. There is no need to be scared of credit cards. They can be very helpful when a person needs to make a large purchase, or prefers not to carry or use cash. In the article that follows you can find advice that will help you with credit cards.

Never lend your credit card to a family member or friend. Even though a good friend might have a need, it is never a good decision to lend it to anyone. It can lead to over-limit charges if your friend should put more on the card than you had authorized them to.

Do not use credit cards to purchase items that are much more than you can possibly afford. While it’s fine to use your card to purchase an item you can pay for later, it is not a good idea to purchase something you will have trouble paying down the line.

When your interest is very high, consider talking to your bank manager or a credit company. Simply call them and inquire if your rate can be decreased. Frequently, the company will be happy to comply to retain your business.

Do not hesitate to request a lower interest rate in order to lighten your debt load. You might be able to get a better interest rate if you are a loyal customer who has a history of paying on time. A single phone call can get you a better interest rate and help you to save a lot of money.

Commit yourself to paying off high balances on any of your credit cards. Paying off credit cards shows financial responsibility, and will reward you with a good credit score. When budgeting for your credit card payment each month, set your payment amount above the required minimum.

Pay your entire balance every month if you can. The best use of credit cards is for convenience to be fully paid within the same billing cycle. Using credit cards and paying the balance in full builds up your credit rating, and ensures no interest will be charged to your account.

Monitor your credit score. 700 is generally the minimum score necessary to be considered a solid credit risk. Try your best to reach and maintain that score. Once your score exceeds 700, you will end up with great credit offers.

Make timely payments on your credit card accounts to maintain a high credit score. Making your payments late will negatively affect your score and cost you additional fees. You can avoid being late by putting your credit card payments on an automatic schedule.

Approach zero percent credit card rates with caution. While no-interest offers sound great, your interest rate and balance may rise significantly when the introductory rate period is over. It is imperative to have full balance knowledge for your cards.

Don’t always pass over your debit card for a credit card just because it offers airline points and rewards. Charging everything to your card will eventually net you the rewards you are looking for. On the other hand, the added interest fees may eclipse the actual cost of the airline miles.

Check your card transactions frequently for false charges. Some companies will even offer mobile alerts for your credit card. This gives you the opportunity to report any irregular activity as soon as possible after it occurs. Contact your bank, and possibly the police, right away if you notice suspicious activity taking place with any of your credit card accounts.

Knowing what you’ve now read about credit cards, you should be comfortable with the fact that a credit card isn’t something to fear. When used properly, credit cards are a great convenience and a useful tool for improving your financial life. If you follow the advice that was in this article, using your credit card responsibly will be easy.

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