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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.

Visa and Mastercard agree to settle part of lawsuit over credit card swipe fees

Visa and Mastercard said Tuesday they will pay $6.2 billion to settle part of a long-running lawsuit brought by merchants over fees on credit card transactions. Visa said it will pay $4.1 billion and ...

Published:  Tue, 18 Sep 2018 22:15:00 GMT



Do's and Don'ts of Using Store Credit Cards for Holiday Shopping

With the winter holidays fast approaching, you may be wondering how to maximize savings on gifts with store credit cards. And you may be considering applying for a store-brand credit card to take ...

Published:  Tue, 18 Sep 2018 09:57:00 GMT



I stopped using credit cards completely in an attempt to get out of debt - here's what happened

I am a shopaholic. I find it hard to resist cute things and the world is filled with cute things. In the early 2000s, I knew I needed to change my financial habits, or I would never get out of debt. I ...

Published:  Tue, 18 Sep 2018 08:59:00 GMT



2 Of 5 U.S. Cardholders Have Fallen Victim To Credit Card Scams

The convenience and ease of credit cards comes with a downside credit card fraud is a tempting and lucrative target for criminals. According to a new Finder.com study, approximately 42% of consumers ( ...

Published:  Tue, 18 Sep 2018 19:47:00 GMT



Thief Caught, Stole Credit Cards At U.S. Open In Hamptons: Cops

SOUTHAMPTON, NY - A Patchogue man was arrested Tuesday after stealing credit cards at the Southampton's Sebonack Golf Club during the U.S. Open Golf Championship in June, police said. According ...

Published:  Tue, 18 Sep 2018 17:16:00 GMT



Visa, Mastercard reach $6.2 billion settlement over card-swipe fees

The card issuers named in the class-action lawsuit include JPMorgan Chase & Co, Citigroup and Bank of America. The lawsuit, brought on behalf of about 12 million retailers and dating back more than a ...

Published:  Tue, 18 Sep 2018 14:05:00 GMT



What Happens If You Exceed Your Credit Limit

Your credit limit is set by your card issuer and determines how much you can purchase on credit each month. Ideally, you'll stay well below that number, but if you find yourself approaching that ceili...

Published:  Tue, 18 Sep 2018 08:05:00 GMT



Most people don't realize this Delta credit card comes with an annual companion plane ticket - it can be an incredible value if you use it right

The Insider Picks team writes about stuff we think you'll like. Business Insider may receive a commission from The Points Guy Affiliate Network. These, plus the opportunity to earn miles - including h...

Published:  Tue, 18 Sep 2018 06:33:00 GMT



Issa Rae Once Racked Up $25K In Credit Card Debt: "It's A Trap"

Issa Rae can now laugh at her past hard times. Issa Rae is now a successful television writer who has scored nominations at the Golden Globes, Emmy Awards, MTV Movie Awards and more, so it's safe to s...

Published:  Tue, 18 Sep 2018 13:11:00 GMT



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