Always track all purchases you make on any charge cards. If you do not consistently write down every single credit card purchase, you can easily lose track of how much you have spent and the new balance on your statement will come as quite a shock.
Make sure you know what your interest rate will be with a given credit card. Prior to getting a credit card, it is vital that you are aware of the interest rate. When you don't know this, you could possibly have a much higher rate than you anticipated. If the rate is higher, you may find that you can't pay the card off every month.
Pay your entire balance every month if you can. In general, it's best to use charge cards as a pass-through, and pay them before the next billing cycle starts, instead of as a high-interest loan. Your credit score benefits from the credit card use, and you won't have finance charges if paid in full.
If you experience a time of financial difficulty in your life, be sure to communicate this with the credit card company to discuss options in your situation. A credit card company may work with you to set up a payment plan you can afford. This can help to save your credit score.
Carefully utilize your bank cards. Only use your card to purchase items that you can actually pay for. When you use the card, you have to know when and how you are going to pay the debt down before you swipe, so that you do not carry a balance. When you have a balance on the card, it is too easy for the debt to grow and this makes it more difficult to clear completely.
Don't run out and get yourself multiple charge cards as soon as you come of age. Your friends may be doing it, but you don't want to find yourself in a credit crisis like others who do it. Take the time to learn how credit works, and how to keep from getting in over your head with credit.
Do not use your credit card to purchase things you simply cannot afford. Just because you want a new flat-screen TV, doesn't mean a credit card is the best way to buy it. Not only will you be saddled with interest, it may cause your monthly payments to become too high for you to keep up with. Get out of the store so you can think about it for a while prior to making a decision. If you still decide to purchase it, the store's financing usually gives low interest rates.
When you use a credit card online, keep a copy of your sales receipt. Keep receipts until you can verify the store that sold you the item charged you the same amount that you are charged on your credit card. 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 help you to avoid getting overcharged for any purchases.
If anyone asks you to give them your credit information or card number over the phone, never give it to them. Scammers will often use this ploy. Only provide your number to the businesses that you fully trust and to the card company when you contact them. Don't give them to individuals who call you. It doesn't matter who they say they are. You never know who they may really be.
It is important that you understand all the new laws governing credit cards. For example, companies cannot give retroactive rate hikes. They also cannot double-cycle bill clients. Educate yourself about credit card laws. You should pay especially close attention to both Fair Credit Billing and the CARD Acts.
Accurate recording of your monthly credit card spending is important. Remember that incidental and impulse buys will add up quickly. If you are not watching out for how much you have already spent you may not be able to pay your bill by month's end.
If you owe more on your credit cards than you can actually pay back, you run the risk of damaging your credit rating. Poor credit will interfere with your ability to do things such as buy a new car or rent an apartment. You may even be barred from some jobs if you have poor credit.
Bank cards have been slowly becoming the way people purchase things because of the way that their banks have been charging fees on their debit cards. Given that this is a growing form of commerce, you can benefit from some of the advantages offered by credit card companies. Use the advice from this article to help make your credit card use advantegous.
http://www.youtube.com/watch?v=IPxQQNyCxas
http://teedor.org/IdeasAndTipsForResponsibleChargeCardUse
