May 28, 2018

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Credit Card Do's

Credit Card Don'ts

The Credit Card Act of 2009


Top Consumer Reviews Articles 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.

The Top 5 Small Business Credit Cards For 2018

If you're in the market for a new credit card, it's important to consider the full lineup of products available to you. Many consumers would be surprised to learn that they actually qualify for business credit cards. Even if you don't run a large ...

Published:  Fri, 25 May 2018 08:36:00 GMT

Credit card rewards may stop existing soon

The days of credit card users getting just about anything and everything in rewards are over, as issuers gird for choppy earnings. "There's no question that banks are concerned about the credit card rewards arms race eating into their profits," said ...

Published:  Sun, 27 May 2018 00:42:00 GMT

The best credit card for millennials, based on their spending habits, rewards, and benefits

The Insider Picks team writes about stuff we think you'll like. Business Insider may receive a commission from The Points Guy Affiliate Network. Millennials. I hear that we're just the worst. After all, it seems like we've killed just about every industry ...

Published:  Fri, 25 May 2018 09:36:00 GMT

When your credit card is compromised (again)

A while back, someone broke into my daughter's car and stole a credit card she kept in there. The thief then attempted to use it, multiple times, to buy big-ticket items at Walmart as well as at various ATMs around town. He must have forgotten that ATMs ...

Published:  Sun, 27 May 2018 06:43:00 GMT

Skimmers are banking on getting your credit card information

DES MOINES, Iowa (KCCI) - Central Iowa law enforcement authorities are warning holiday travelers to beware of skimmers, thieves who place strips on the inside of ATMs and gas pumps to obtain credit card information. Patrick Dix, a spokesperson for SHAZAM ...

Published:  Sun, 27 May 2018 02:32:00 GMT

Should You Close an Unused Credit Card The Answer Might Surprise You

If you have an old credit card sitting in the back of your wallet that you haven't swiped in years, you might be tempted to close your account. Conventional wisdom would disagree, however. Unless the card comes with an annual fee, most credit score gurus ...

Published:  Sun, 29 Apr 2018 06:46:00 GMT

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