Obtain a copy of your credit score, before you begin applying for a credit card. Credit card companies will determine your interest rate and conditions of credit by using your credit history, among other factors. Checking your credit score before you apply, will allow you to make sure you are getting the best rate possible.
Be safe when giving out your credit card information. If you like to order things online with it, then you have to be sure the website is secure. If you notice charges that you didn't make, call the customer service number for the credit card company. They can help deactivate your card and make it unusable, until they mail you a new one with a new account number.
When considering whether or not you want to apply for a credit card, be sure that this is one that you both need and have a good chance of being accepted for. It is important to consider this, because with each credit application that you make, you are receiving a hard inquiry on your credit record. This can lead to lower scores with each credit check.
Look into the rewards that credit card companies offer. Find one that is going to pay you for making purchases on their card. If you are trying to maximize the rewards, charge everything you can on the card, but be sure to put enough cash back to pay the card off each month, in order to avoid losing your rewards to interest fees.
In terms of managing your credit cards, you might find it wise to only use one credit card at a time. This is a great way to be sure that you do not forget about a balance on one card that you do not use as frequently. If needed, only carry one card at a time and keep the other ones put away in a drawer.
Mark your calendar for the day that you are expecting to receive your credit card statement. If your statement does not arrive when it is expected, be sure to contact the company as soon as possible. You must get a statement each month, carefully read through it to be sure nothing is missing ,or additional charges do not appear.
When applying for a credit card, be sure to check out the options that they have for changing the terms on you. This will help you to prepare for any changes that the company may make to your agreement in the future. This may apply to anything from your interest rate, to applying an annual fee, to upping your minimal payment.
Consider making more than one payment each month. If you send out a minimum payment twice each month, you will get ahead on the balance and you are less likely to be late on your payment. It is easier for most people to make two small payments versus one big one.
Prior to applying for a credit card, try to build your credit up at least six months in advance. Then, be sure to take a look at your credit report. By doing this, you are more likely to get approved for the credit card and get a higher credit limit, as well.
As previously stated, owning a credit card or two has many advantages. By applying some of the advice contained in the tips featured above, you can be sure that using a credit card doesn't end up costing you a lot of money. Furthermore, some of the tips could help you to, actually, make some extra money when you use a credit card.
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