Keep Credit Cards From Ruining Your Financial Life

Many people think all credit cards are the same, but this is not true. Credit cards can have different limits, rewards, and even interest rates. Selecting the right credit card takes a lot of thought. Here are some tips that will help you select the right credit card.

If you have credit cards, make sure you have a budget determined. It is important to budget your income, and it is equally important to budget your credit card spending habits. You don’t want to get into the habit of thinking of credit cards as extra money. Decide how much you can afford to pay your credit card company, and do not charge more than that amount every month. Stay within your budget and pay any balance off each month.

Watch your credit balance cautiously. Be sure that you’re aware of what kind of limits are on your credit card account. If you go over that limit, you are going to pay more fees than you realize. It will take much longer for someone to pay their balance down if they exceed their limit consistently.

When you are using your credit card at an ATM make sure that you swipe it and return it to a safe place as quickly as possible. There are many people that will look over your shoulder to try to see the information on the card and use it for fraudulent purposes.

If you are about to start a search for a new credit card, be sure to check your credit record first. Make sure your credit report accurately reflects your debts and obligations. Contact the credit reporting agency to remove old or inaccurate information. A little time spent upfront will net you the best credit limit and lowest interest rates that you may be eligible for.

Be sure to get assistance, if you’re in over your head with your credit cards. Try contacting Consumer Credit Counseling Service. This nonprofit organization offers many low, or no cost services, to those who need a repayment plan in place to take care of their debt, and improve their overall credit.

When you make online purchases with your credit card, always print out a copy of the sales receipt. Keep these receipts and compare them with your statement to make sure it is the correct amount. If they mis-charged you, first contact the company, and if they do not fix it, file a dispute with your credit company. This can be an excellent method of assuring you don’t get overcharged for purchases.

Never leave a space blank on your credit card receipt when you make a purchase. If the receipt includes a tip line and you aren’t leaving a tip, draw a line in the tip space. If you do not you take the chance of an employee writing in an amount themselves. You should also check your statements to ensure your purchases actually match the ones that are on your monthly statement.

Be sure to avoid using a public computer to make online purchases. Your information can be stored on public computers, like the ones in the library and coffee shops. You don’t want your personal and credit card information in these computers as it can cause you trouble. Make sure that all purchases are made on your computer, always.

Now that you realize that all credit cards aren’t created equal, you can give some proper thought to the type of credit card you might want. Since cards differ in interest rates, rewards, and limits, it can be tough to choose one. Luckily, the tips you’ve received can help you make that choice.

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