Important Steps To Follow For Good Credit Card Management
Credit card or plastic money is omnipresent today. Today they are treated as more of a necessity than just a commodity. Hence, it is important for you to not just use them appropriately yet at the same time take good care of them. The following list is a compilation of some tips on credit card management:
1. Never chose a particular credit card because your friend or someone else has chosen it.
2. Try researching different types of credit cards before applying for one.
3. Make sure to sign at the back of your credit card right away after receiving it. This is an important credit card protection mechanism.
4. Safeguard all confidential information of your credit card such as its PIN. Never reveal the details to anyone.
5. Destroy any mails containing such the details about your credit cards. Swindlers may be checking into your garbage for those details.
6. Also do not share your credit card with your family, friends, or whoever. Apply for supplementary cards if you require one for your family etc.
7. Never exceed 75% of your credit limit. This enables to increase your credit card debt and also it will keep a good credit score.
8. Be prompt in your payments. If you haven’t received your monthly bill, enquire with your credit card supplier. Non-payments and late payments tarnish your credit rating.
9. Never ever lose your credit card.
10. Debt elimination can never be easily resolved. Hence you have to do the best you can to stay away from credit card debt. This includes things like controlling your credit card usage, using cash on some occasions, debt consolidation etc.
11. In the event that you lose your credit card or it gets stolen, you have to promptly inform your credit card provider to have it invalidated. Have a copy of their contact number separate from your credit card.
12. A change of address shall be right away communicated to your credit card supplier.
13. You must be aware of the discounts or rewards you can avail with your credit card. You never know when one might prove useful to you.
14. Do not regard your credit card as free money or lottery. Remember that you will have to pay for it. So always stick to your budget.
15. Find out if other types of credit cards such as student credit card, small business credit card is more useful for you.
16. Always read all the instructions supplied with your credit card especially the ones related to fee/commissions etc.
17. Claim membership rewards as soon as possible. Don’t let the points get expired.
18. Seek advice from experts in case you are dealing with credit card debt.
Find More Good Credit Articles