You will be faced with a barrage of credit card promotions and offers over the years and it is sometimes overwhelming to deal with them. Some cards offer low rates, some are easy to receive, and others offer great card rewards. How can a consumer decide? The following information is just what you need to figure out which offers are worth pursuing and which should be shredded.
Do not use your credit card to make purchases or everyday items like milk, eggs, gas and chewing gum. Doing this can quickly become a habit and you can end up racking your debts up quite quickly. The best thing to do is to use your debit card and save the credit card for larger purchases.
If you see any suspicious charges, report them quickly. When you do that, you will give the credit company a good chance of making sure the thief is caught. By doing this you also are less likely to be held responsible for any transactions made from the thief. Fraudulent charges can usually be reported by making a phone call or sending an email to the credit card company.
Read the fine print. Make sure you know exactly what is being offered in that pre-approved credit card before you take advantage of it. Always be aware of what your interest rates are, as well as the amount of time you have to pay those rates. You should also ensure you have a complete understanding of any fees as well as grace periods associated with the credit card.
In order to keep your spending under control, make a record of the purchases that you make with your credit card. It can be easy to spend more on your credit card than you intended, so make the decision to keep a total on a spreadsheet or in a written record.
You want to also avoid having to pay over the limit fees, just like wanting to avoid late fees. Both are expensive fees and exceeding your limit can also hurt your credit score. Watch carefully, and do not go over your credit limit.
Take the time to play around with numbers. Before you go out and put a pair of fifty dollar shoes on your credit card, sit with a calculator and figure out the interest costs. It may make you second-think the idea of buying those shoes that you think you need.
Carefully consider those cards that offer you a zero percent interest rate. It may seem very alluring at first, but you may find later that you will have to pay sky high rates down the road. Learn how long that rate is going to last and what the go-to rate will be when it expires.
Consumers today receive a mass of credit card offers in the mail everyday, and it can be difficult to sort through them all. If you do your homework thoroughly, understanding all about credit cards, and which one would be suitable for you, is easy. This article has given some effective advice for helping consumers make smart decisions about credit cards.