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      September 19, 2018

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Credit Card Do's

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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 Do's

How to manage your first credit card is, unfortunately, not common knowledge nor taught in school. Typically it's a process that is learned over time, but often not before making unnecessary and costly mistakes. If you're the parent of a soon to be adult child, be sure and share this information with them.

  • Shop around for the best credit card deal. Use the internet to compare and contrast the greatest number of credit card options.
  • Read the fine print of any credit card option you're considering. Understand what fees will be incurred and if the stated interest rate is promotional, variable or fixed. Also don't hesitate to ask questions of the credit card company or someone else if you don't understand the terms of a card.
  • Keep your credit cards safe from fraudulent charges. Sign your card as soon as it arrives in the mail. Keep an eye on your card during the transaction, and get it back as soon as possible. Save your receipts in order to compare them with the actual statement. Never place your pin number on or near the card.
  • If you lose the card you'll need to call the credit card company as soon as physically possible to avoid a major headache. Keep a record of your credit card account information together with the customer service phone number in a safe place
  • Periodically pull your credit report to look for mistakes. If you see fraudulent accounts open under your social security number or reports of erroneous missed payments you'll need to take action quickly to get those items resolved.
  • If you decide to cancel an unused credit card make sure you have the company report it as "Customer Requested" to avoid any damage to your credit score. Closing unused credit cards is a good way to avoid credit card fraud.
  • Be aware of the desire to make frivolous purchases with your credit card. You will eventually have to pay back the cost of that item. Only use your credit cards on items you need versus items you want.
  • If something comes up and you can't make your minimum payment on time call the credit card company right away. They will often work with you to avoid late fee payments and get your account back on track.
  • We all like to say we won't keep a credit card balance but that's unrealistic for most credit card holders. If possible, keep your balance at around 30% or less of the available credit. This will have a positive reflection on your credit score - improving your chances of affordable borrowing in the future. Make it a practice of paying more than the minimum payment each and every month.
  • If you're credit card rate is high don't hesitate to call the company and attempt to negotiate to a lower rate. This can save you hundreds to thousands of dollars in the long run. A solid payment history will allow you to better leverage your business during this process.

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 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

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