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TopConsumerReviews.com provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

Credit Card Don'ts

Many of us learn good credit card skills once we've made some hard mistakes. However, that doesn't have to be the case if you avoid the following don'ts of credit card use. Doing so will save you money and, very importantly, will help you achieve and maintain a positive credit history. A solid credit report means you can borrow money from lenders at a cheaper rate.

  • If all of your friends are getting credit cards or buying major purchases on credit don't feel pressure to follow suit. Credit card debt can quickly spiral out of control leaving you with a mound of payments you can't afford.
  • Don't send your payments late. The reason for this is several fold. You will get accessed an expensive late penalty and the negative activity will show up on your credit report. This can make borrowing money for things like a car or house much more expensive.
  • Paying only the minimum required payment each month means you're paying for expensive accumulated interest charges. Don't pay only the minimum payment each month to avoid unnecessary interest charges.
  • Don't attempt to overdraw your credit card. This is a lightning fast way to get a negative mark on your credit report and will cost you.
  • Unless you manage your spending very closely, don't use your credit card to pay for all of your everyday expenses. This is a quick way to run up the balance of your credit card.
  • Don't lend your credit card to a friend. This has backfired so many times and typically results in a lost friendship. If that person could afford the item they wouldn't need to borrow your credit card.
  • Keep your pin numbers safe. Don't write your pin number on the back of your credit card to help you remember. This is an easy way for thieves to withdraw thousands of dollars of cash against your credit.
  • Never give out your credit card number to a caller. If you are initiating a purchase over the phone be sure you are talking to a reputable company to avoid a scam.
  • If your first card balance is reaching the credit limit it's not time to get another card. Don't apply for more credit cards if you are carrying large balances on other credit cards. This can get you into financial trouble.
  • Avoid making unnecessary credit card purchases. Unless you can really afford that big ticket item you shouldn't buy it - not even on credit.

Keeping your credit card safe, avoiding over use and only making minimum payments are important aspects of managing your credit card use.

Americans are having trouble paying off their credit cards - and it could spell trouble for the economy

US credit-card delinquencies are rising, a potentially ominous sign for the economy. Americans now have more credit-card debt than before the financial crisis - over $1 trillion. US household balance sheets are better positioned than before the recession ...

Published:  Tue, 21 Nov 2017 20:25:00 GMT



How to still have a merry Christmas if you're struggling with credit-card debt

It's almost Black Friday. Do you know where your credit cards are If you're like many Americans, you know exactly where they are and you're preparing to use them. The Federal Reserve numbers include not just credit card debt, but also mortgages, student ...

Published:  Tue, 21 Nov 2017 03:15:33 GMT



App helps users maximize credit card rewards

GOLDEN VALLEY, Minn. - When you pay, you earn. Rewards like flights, hotels, even cash back. But are you using the best credit card for you "When someone has multiple cards in their wallet, they're missing out on around $200 a year in rewards," said Alex ...

Published:  Tue, 21 Nov 2017 18:38:00 GMT



The 7 Best Credit Cards For Holiday Shopping

With Black Friday and Cyber Monday just around the corner, it seems appropriate to look at some top credit cards for holiday shopping. Before we look at these card options, however, a word of caution. According to a recent Nerd Wallet study, nearly 25% of ...

Published:  Mon, 20 Nov 2017 08:32:00 GMT



3 Busted With Forged Checks, Credit Card Scanner In Darien: PD

DARIEN, CT - Three New York suspects were arrested on fraud and larceny charges on Nov. 16 after Darien police caught them with forged checks and credit card scanning device in the parking lot of the TD Bank on the Post Road. Before being charged two of ...

Published:  Tue, 21 Nov 2017 15:43:00 GMT



Police: Woman charged with identity theft after car break-in victim's credit cards were used at Norridge mall

Norridge police said a 22-year-old Chicago woman was charged with identity theft on Nov. 7, after a car break-in victim's missing credit card was used to rack up more than $1,000 in purchases at stores at Harlem Irving Plaza. Breeann Taylor, of the 3300 ...

Published:  Tue, 21 Nov 2017 12:56:00 GMT



One major way U.S. credit-card debt is getting worse

Americans are increasingly delinquent on their credit-card debt. Credit-card delinquencies have increased this year, according to a new report released this month by the New York Federal Reserve. Some 4.6% of credit-card debt became 90 or more days ...

Published:  Mon, 20 Nov 2017 13:20:00 GMT



Doctor uses credit card points to reunite families around the world

How would you like to take exotic vacations, fly first class and stay in fancy hotels for under $100 People are making it happen using a technique called credit card churning. But a New Orleans man is taking card churning one step further and using it to ...

Published:  Tue, 21 Nov 2017 04:05:00 GMT



Are Holiday Credit Card Promotions Right for You

This article was first published on NerdWallet.com. Budgets and holidays don't always go hand in hand. Putting gifts on a credit card can be tempting, but interest charges might sour your spirit and draw you to credit card promotions with enticing offers ...

Published:  Tue, 21 Nov 2017 05:25:00 GMT



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