Sunday, September 30, 2012

Things That You Must Know When Dealing With Credit Cards

By John Payne

Credit cards help people all over the world in achieving goals that they have in life. Having a credit card dramatically increases a person's financial freedom. But, there is no substitute for wise decision making when it comes to using credit cards. This article contains lots of excellent consumer credit card advice.

If you have made a late payment or missed one, ask the card company to lower the fees and interest rates. Credit companies have the right to raise rates or charge fees if you make payments late. You could usually get these charges reduced by calling your credit card provider.

Use your credit cards on a regular basis so that your accounts are not closed. If you credit card account is inactive for long periods of time, some credit card providers will close your account and give you minimal warning about the closure. Try using credit cards for things that you have money for, then pay them off right away.

Go over all monthly statements with caution. Determine if every single charge that is listed is accurate, if any credits that are required are listed, and if any unusual or unexpected charges have somehow been included. If you notify the card company right away, before you pay, they can usually correct legitimate mistakes.

Negotiate for a better interest rate, especially if you have been with the company for a long time. You can negotiate with the company that owns your credit card and try to get a lower interest rate. You may have a good chance to get your Annual Percentage Rate (APR) lowered if make sure you make timely payments, and have a good track record.

You can really damage your credit score if you use a credit card to make purchases for more than what you can pay for with cash. This can make it difficult for you to do things like finance a car or rent an apartment in the future. You can find it hard to even find a job or insurance at times.

Credit is a useful tool when it is wielded properly. Those ideas that have been provided in this reading should be able to help you to use your card in a safe and efficient manner while remaining debt free and with a great credit score.

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