Countless individuals have used credit cards to live the lifestyles they covet. You will have more financial freedom and opportunities if you have a credit card. Having said that, it is always important to choose a credit card wisely and use it with a high level of diligence. The article below covers some of the basic credit information to help consumers achieve that balance.
Never close a credit account until you understand how it affects your credit history. Sometimes closing credit cards can leave negative marks on credit reports and that should be avoided. Additionally, try keeping the card accounts open that comprise the main part of your payment and spending history.
Should you notice a charge that is fraudulent on any credit card, immediately report it to the credit card company. The sooner you report it the sooner you give credit card companies and the authorities to catch the thief. In addition, this is the best method of ensuring you aren’t responsible for the charges. It usually just takes a brief email or phone call to report fraudulent charges.
Be sure you don’t order credit cards if your mailbox isn’t lockable. Many thieves have admitted to stealing cards from mailboxes when those boxes did not lock.
Keep your receipts from all online purchases. Retain the receipt until the bill arrives so you can ensure that you were charged the proper amount. If there is an incorrect charge, contact your credit card company immediately. Having the receipt on hand will make any disputes much easier to resolve.
Never be scared to ask the credit card company to lower your interest rate. If you maintain a good history with your company and have always made payments on time, you should be able to come up with a better rate. A quick call might be all that is necessary to lower your rate and facilitate real savings.
Check your credit score regularly. Most credit cards consider a good credit score to be anything above 700. Put your credit to work to maintain that score or to help you reach it. With a score of over 700, you can receive the very best offers with the absolute lowest rates.
If you do not fully trust and know the company that you are communicating with over the Internet or phone, do not provide them with your numbers from your credit card. If you are getting odd offers that want the number of your credit card, be very careful. Many scammers all over the world would love to get your credit card information. Protect yourself and be diligent.
If you close a credit card, cut up or shred your card, too. It isn’t a good idea to toss it in a drawer or allow your child to use it as a toy, even if the account is closed. Someone could still glean information about you from the card, open another account in your name, and start racking up debt.
Credit cards can be very beneficial, as they allow people to buy a greater variety of products and can alter lifestyles. They can be an amazing tool for opening financial doors, or they can be the reason for financial doors being slammed closed. This article is loaded with advice to help consumers make wise decisions when using their credit cards.