Consumer advice is a commodity itself these days, especially when it comes to credit cards. This article will help you know more about credit cards and dodging the troubles associated with them. Often, lack of proper knowledge is why people have credit card difficulties.
If you know that someone made a charge on your card without your permission, report it as soon as possible. This gives the credit card companies the most opportunity to catch the person responsible. This will also allow you to be sure that you aren't responsible for the charges they made. A simple phone call is usually all it takes to report fraudulent charges or put a hold on a stolen card.
If you apply for a store branded credit card, make sure it is a store that you shop at regularly. When retail stores put in an inquiry on your credit to qualify you for a card, it gets recorded on your credit report whether you open the card or not. Too many inquiries into your credit history will be a red flag to possible lenders and will lower your overall credit score.
If you have financial problems in your life, tell your card company. You may be able to adjust your payment plan so that you won't miss a credit card payment. Most companies will work with you if you contact them in advance. This can help to save your credit score.
It isn't the best idea to get credit as soon as you turn 18 years old. Although this might be what most people do, you might need a few months to understand the basics of the credit industry before you use credit cards. See how adult life is before you decide to get your very first credit card.
Leave no blanks spaces on any credit card receipts you sign at a store. If there is a blank for a tip, cross it out so that a tip cannot be written in after you've signed. You should also always check your statement against your receipts every month to ensure they match up.
We have all gone through it. You get some annoying mailings from credit card companies asking you to consider their cards. Sometimes you may want a new card, sometimes you might not. When you throw out the mail, rip it into small pieces. Simply tossing it away leaves you at the risk of identity theft.
Avoid closing accounts. This may seem like a smart thing to do when trying to raise a credit score, but it actually can damage the score. The reason behind this is that you will be reducing the total mount of credit you are given while still owing the same amount. The ratio between the two will look worse as a result.
As you can probably see, it is very easy to get yourself deep in financial trouble by charging up credit cards. There are just so many cards and then you start buying things with them. After a while, you start to get into some trouble. The information in this article can help you properly manage your credit cards and keep you financially healthy.
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