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Credit Card Do's

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The Credit Card Act of 2009

 

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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.

New Balance Transfer Offer: The Amex EveryDay® Credit Card from American Express

The beginning of a new year is a common time for credit card issuers to change their current card offers by adding or removing features. So far this year, there have been many changes to cards in the balance transfer market with several main issuers making ...

Published:  Sun, 18 Feb 2018 03:22:00 GMT



Israel regulator issues rules for acquiring credit card firms

JERUSALEM, Feb 18 (Reuters) - Israel's banking regulator on Sunday published its final criteria for foreign and domestic entities seeking to buy credit card companies from banks that must divest them as part of a bid to boost competition. Israel's top ...

Published:  Sun, 18 Feb 2018 03:33:00 GMT



Woman Stole Credit Cards, Went On Shopping Spree: Denver Police

DENVER, CO -- Denver police seek help identifying a woman who allegedly used credit cards she got from a stolen car to go on a shopping spree. The woman, captured on video in the photo above, allegedly bought items with someone else's credit cards at TJ ...

Published:  Sat, 17 Feb 2018 20:47:00 GMT



Coinbase blames credit card reprocessing for incorrect Bitcoin purchase fees

Following an influx of complaints from customers over exorbitant transaction costs and multiple charges on their accounts, cryptocurrency exchange Coinbase has issued a statement that suggests the problem was caused by credit and debit card issuers.

Published:  Fri, 16 Feb 2018 11:22:00 GMT



All 50 states ranked for identity theft and credit card fraud, from most at risk to the least

DON'T MISS: Freezing your credit after the Equifax breach won't prevent the most common type of identity theft - here's what will

Published:  Thu, 15 Feb 2018 12:23:00 GMT



This Week In Credit Card News: Kids Are Key Targets For ID Theft; Is Card Debt Bad For Your Health

Synthetic identity theft frequently involves the use of stolen Social Security Numbers combined with fabricated personal information, which is used to trigger the creation of a "synthetic" credit file. This file is then nurtured and grown over time ...

Published:  Fri, 16 Feb 2018 11:29:00 GMT



Naperville man charged with credit card fraud, identity theft

A Naperville man believed to have committed forgery, credit card fraud, and identity theft was arrested and charged this week by Naperville police. Brenton C. Thurman II, 27, of the 0-100 block of Olesen Drive, was under investigation for months before ...

Published:  Sat, 17 Feb 2018 12:50:00 GMT



Forged, Stolen Credit Cards & Skimmer Recovered by Sherwood PD

SHERWOOD, Ark.-- Two men sat behind bars Saturday night after Sherwood police find forged credit cards, stolen credit cards and a credit card skimmer. 25-year-old Omar Cobb and 24-year-old Justin Lee booked into jail Friday on more than half a dozen counts ...

Published:  Sat, 17 Feb 2018 19:24:00 GMT



Credit card skimmer found at local gas station

VALDOSTA - Valdosta Police report that a credit card skimmer was found at a local gas station. According to the report "the gas station attendant reported a malfunction to their respective corporate office and the responding technician found a Credit ...

Published:  Fri, 16 Feb 2018 12:30:00 GMT



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