10 things that every credit card holder should take care of
Cynthia Stewart
Jun 25, 2007
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- As soon as you receive your credit cards read the terms and conditions,
and if you really want to use that credit card make sure that you sign at
the back of the credit card.
- Never share, write, post, or scramble your credit card PIN. As soon as you
get the PIN memorize it and destroy the pin mailer.
- Do not max out on your credit cards. Credit card companies do not like people
max out and reach their credit limits. This could reflect badly on your credit
history and if you go overboard credit card companies won't hesitate in slapping
a over the limit fees.
- The ideal situation would be to repay all your existing credit card debts
on a monthly basis. Never ever miss out on a credit card repayment. If finances
do not allow the complete repayment, try to repay the maximum possible, if
situation is too tight just pay the minimum and remember to send the payments
in such a way that it reaches the credit card company on time.
- Read your credit card monthly statements carefully and check it regularly
for inconsistencies, any additional charge, faulty APR's, missed details or
incorrect information. Get it corrected as soon as possible.
- Don't try to get every possible credit card in the market. Try to keep the
credit cards you own, as few as possible.
- If credit card debt is a constant source of worry for you and this debt
is the result of having multiple credit cards- it's time to consolidate. Credit
card debt consolidation is a process which has helped many people get rid
of multiple credit card debt.
- Report the loss, damage or misuse of your credit card immediately to the
credit card issuing company. Almost every credit card issuer provides a toll
free number. Take care to note down this number and keep it handy. Reporting
any such incident promptly to the credit card company will ensure that you
don't get fraudulent charges and there is no liability on your credit card.
- Credit card rewards should be redeemed properly and the credit card should
be used at proper places and preferred outlets so that the rewards earned
on the credit cards are maximum.
- The importance of spending credit card money wisely can never be understated.
Everything that you spend with your credit card is a loan and has to be repaid
with interest. This should be absolutely clear in every credit card holders
mind.
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