How to Use Credi Cards the Right Way - PowerPoint PPT Presentation

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How to Use Credi Cards the Right Way

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Learn how to use your credit cards wisely and prevent exorbitant charges. You may even save money doing so! For more credit card tips visit – PowerPoint PPT presentation

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Title: How to Use Credi Cards the Right Way


1
How To Use Your Credit Cards The Right Way
2
Credit Cards
  • If you seem lost and confused in the world of
    credit cards, you are not alone. They have become
    so mainstream. Such a part of our daily lives,
    and yet so many people are still confused about
    the best ways to use them, how they affect your
    credit in the future, and even what the credit
    card companies are and are not allowed to do.
    This article will attempt to help you wade
    through all the information.

3
Dont Open Too Many Credit Card Accounts
  • A single person only needs two or three in his or
    her name, in order to get a good credit
    established. More credit cards than this could
    actually do more damage than good to your score.
    Also, having multiple accounts is harder to keep
    track of and harder to remember to pay on time.

4
Close Accounts Not Used In The Past 6 Months
  • If you have any credit cards that you have not
    used in the past six months, then it would
    probably be a good idea to close out those
    accounts. If a thief gets his hands on them, you
    may not notice for a while because you are not
    likely to go looking at the balance of those
    credit cards and they may rack up some exorbitant
    costs.
  • TIP How to close credit card without damaging
    your credit score

5
Manage Your Statements Online
  • Learn how to manage your bad credit credit card
    online. Most credit card companies now have
    online resources where you can oversee your daily
    credit actions. These resources give you more
    power than you have ever had before over your
    credit, including, knowing very quickly, whether
    your identity has been compromised.

6
Save Your Statements
  • Make sure you save your statements. Before you
    file them away, pay close attention to what is on
    them as well. If you see a charge that shouldn't
    be on there, dispute the charge. All credit card
    companies have dispute procedures in place to
    assist you with fraudulent charges that may
    occur.
  • TIP How to dispute charge offs from your credit
    report

7
Dont Treat Your Credit Card Like An ATM
  • To avoid interest charges, don't treat your
    credit card as you would an ATM card. Don't get
    in the habit of charging every single item that
    you buy. Doing so will only pile on charges to
    your bill, you may get an unpleasant surprise
    when you receive that monthly credit card bill.
  • TIP Reasons why credit card cash advances are
    NOT good.

8
Pay On Time
  • Make sure that you make your payments on time
    when you have a credit card. The extra fees are
    where the credit card companies get you. It is
    very important to make sure you pay on time to
    avoid those costly fees. This will also reflect
    positively on your credit report.

9
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