Credit Card Tips - 18 Useful Tips
Posted: Mar 27, 2012
In this article we present 18 useful credit card tips. These are tips that will hopefully help you to get the most out of your card, help you to choose the right credit card for your use, as well as help you avoid credit card traps. More information can be found in articles in the menu and blog archives.
1. Choose one or more credit cards with benefits that you can use. Are there discounts on fuel you need, or there are good discounts on clothes you will get the most pleasure?
2. Avoid the credit card trap. If possible, always pay the entire outstanding amount within the time limit for the interest free period. Then a credit card helps your finances, while lack of payment will have the opposite effect.
3. Familiarize yourself with the Financial Agreement Act, § 54b. It is the articles that protect your rights with credit and its provisions can save you a lot of money. If the terms of the Act are met, you will among other things, be able to claim compensation from the creditor by the bankruptcy or fraud.
4. Do not borrow money to pay installments. If you cannot control your credit card debt, you should contact the creditor and request a payment agreement. To borrow money to service debt in the long run exacerbate the problems for most people.
5. Avoid overdraft of credit cards. It will result in costly fees, together with high interest rates will give you from experience that you can do without.
6. Check if your credit has regional block before traveling abroad. If you have a bank card associated with this can easily be done there.
7. Avoid using credit cards in the mail, for cash withdrawals and transfers from any online account. For most cards will result in high fees and interest from day one.
8. Pay with a foreign (local) currency on holiday travel and similar destinations. The payment site that sets the course for sufficient, a course they often set too low to make money. The local currency is determined respectively by Visa and MasterCard, making it a better choice.
9. Pay your credit card if you have travel insurance. However, remember to check if you have a need for annual travel insurance as well. Also remember to check the conditions for travel insurance.
10. Use effective rate to compare credit cards. Effective rate is the nominal interest rate plus fees and all that offer loans and credit cards will provide this. Remember that not all fees are included in the effective interest rate. This includes fees associated with use as overdraft and cash withdrawals.
11. Educate yourself about the benefits of credit cards. Then you can save money to take advantage of discounts. More about discounts, bonuses, cash back and gasoline cards, see the separate article.
12. Purchases of goods and services. It's basically this is a credit card is intended for and this is what it should be used. Both conditions for discounts, interest-free credit, fee free, etc., are usually associated with credit purchases.
13. Remember that credit cards can affect your chances of mortgage. A bad payment history will be able to destroy such opportunities even if you do not have payment record. Regular payment of all outstanding amounts could affect the possibilities of positive mortgage. That because you have demonstrated ability to pay and willingness, and good control on their finances.
14. Think safety. Phishing scams are unfortunately not uncommon and you have a duty to exercise caution. Among other things, it will be seen as grossly negligent if you keep your credit card and code together. Remember to notify immediately if lost or stolen cards.
15. Familiarize yourself with the terms applicable to your credit card. There is a lot of standardized information, but they are nevertheless important. If you do not know the conditions for benefits, fees, travel insurance, cash advances, abuse, etc., you could go to a real bang.
16. If you obtain more credit cards you will be able to take advantage of several benefits, but remember that self-discipline and control of personal finances is important if you want to avoid high interest credit
17. Keep receipts and any correspondence with the seller or creditor. It may prove to be important documentation (evidence) in the event of conflict.
18. Self-discipline and control of personal finances is the key to wise use of credit cards. Do not be tempted to only pay the minimum amount at maturity. It will provide high interest costs. The feeling of freedom and opportunity for flexibility when you get a new credit card in your hands is good, but do not forget you the moment you charge the card actually lends money.
Austin Ames has many years' experience in article writing and he has written many more in the past.