How To Know What Your Credit Card Finance Charges Are - 0 views
started by Noam Downey on 14 May 12
started by Noam Downey on 14 May 12
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started by Noam Downey on 14 May 12
If you have a credit card, do not pay for your purchases right after you make them. Instead of paying right away, only pay when your statement comes in. Then you can pay the full balance to be done with it for another month. Making this adjustment to your habits can provide you with a sound payment history and boost your credit score.
If you're using a lot of credit cards, it might be a great idea to use one and pay for it each month. Your other cards may have high debt, but paying off one select card in full each month helps to build stronger credit.
Larger purchases, such as electronics, are sometimes best made with a credit card. Cards often give buyers private protection that is better than the warranty. However, it is important to pay off your purchase quickly in order to avoid large amounts of interest.
Always pay your credit card bills on time. Neglecting your credit card's due date can result in late charges for you. On top of this, you could be permanently charged a higher interest rate, and this means all future transactions will cost more in the long run.
When getting a premium card you should verify whether or not there are annual fees attached to it, since they can be pretty pricey. Annual fees for black or platinum cards can range from $100 to $1000 depending on the card's exclusivity. If you can't benefit from a premium card, find a card with no annual fee and don't waste your money on the premium card's steep annual fees.
Whenever you can, steer clear of cards that come with annual fees. Usually, cards that don't have annual fees are offered to people that have good credit scores. Annual fees can make any rewards you earn not worth it. Calculate it in your head. Issuers obviously will not advertise the fees; you will have to go over the fine print to find them. Put your reading glasses on. Calculate whether the benefits of the card are worth the fees. Usually they aren't worth it.
When signing credit card receipts in stores, don't leave blank spaces. Always cross out the tipping line, so an amount that you did not authorize is not added in later. Carefully check your statements to assure your purchases match the amount on your statement.
Pay off your whole card balance every month if you can. Ideally, credit cards are only for convenience and should be paid completely at the end of a billing cycle. Your credit score benefits from the credit card use, and you won't have finance charges if paid in full.
As you can now see, people are often very unaware of the terms regarding their credit use. It is to be hoped that this article imparted some useful financial information to help you navigate the world of credit.
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