What do you think of when you hear the word credit cards? If you start to shake in fear because of a bad experience, then this article is perfect for you. It contains many tips related to credit and credit cards, and can help you to break yourself of that fear!
Several Credit Cards
If you have several credit cards with balances on each, consider transferring all of your balances to one. Almost everyone gets mail from various banks offering low balance credit cards if you transfer your current balances. These lower interest rates usually last for 6 months or a year. You can save a lot of interest and have one lower payment each month!
Be wary of introductory deals on credit cards. Credit cards providers will offer new credit cards, with low-interest rates, and high credit limits in order to sign up. These providers increase the interest rate on their credit cards after a customer owned a card for a few months
Compare the features of each credit card before you choose one. Some credit cards offer cash back on purchases and others, have great rewards programs. For example, if you travel a great deal, you may want a credit card that gives you points for each purchase towards airline miles or hotel discounts.
When you use a credit card to make a reservation, (e.g. at a hotel, or for plane tickets) you should always complete the transaction using the same card. Paying in cash, or using a different card opens you up to being charged twice for the same service. Even if you are not double-charged, removing the reservation charge from your card can take a long time.
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.
To help you get the maximum value from your credit card, choose a card which provides rewards based on the amount of money you spend.
You may also read: Credit Card Advice You Should Not Ignore
Don’t pay any fees upfront when you are getting a credit card. The legitimate card issuers will not ask for any money up front unless you’re getting a secured credit card. When you are applying for a secured card, be sure to find out how the deposit is going to be used.
Be careful what secured credit card that you choose. The company might offer certain perks, but the whole program has to be in the right direction. If it is not, your credit on track, then what you will see is yourself stuck with yet another harmful account, and your credit score going down the tubes.
How do you feel now? It is time to continue your credit education. If that fear has passed, pat yourself on the back. You have educated and prepared yourself in a responsible manner.