ArticlesReader.com Menu
Newest Articles
Most Viewed Articles
ArticlesReader.com RSS
Submit Article
Login
Signup
Search the articles

Articles Main Categories
Advice
Animals
Automobiles
Business
Career
Communications
Computer Programming
Computers
Entertainment
Environment
Family
Fashion
Finance
Food
Health & Medical
Home & Garden
Humor
Internet Business
Internet Marketing
Legal
Leisure & Recreation
Marketing
Other
Politics
Reference & Education
Religion
Self Improvement
Sports
Technology & Science
Travel
Writing
Subscribe
Receive alert message from us when new articles submitted to our site for free.

Enter your name

Enter your email

Syndicate

















Related Products
Home::Family

10 Things You Should Know About Credit Cards

Author : Terry J. Rigg
Maybe these 10 items may answer some questions you have about
using credit cards. Make sure to check out the link in #1.

#1. Don't Use Them.

Credit cards accounted for 1.3 million Americans filing
bankruptcy in 1998.

#2. If you use credit cards pay them off each month.

Carrying a balance on your credit cards could add up to hundreds
of dollars each year in interest and penalties.

#3. If you can't pay off your credit card balance each month,
pay as much as possible.

Every extra dollar you pay over the interest charges goes toward
paying off the principle. Minimum payments are 90% interest and
10% principle.

#4. Never obtain a credit card based on an introductory interest
rate.

Introductory interest rates are strictly bait to get you hooked.
After a short period of time the intro rate increases
substantially.

#5. Be careful consolidating your credit card debt.

Whether you use equity in your home or find another credit card
to lower your interest rate, there are things you MUST DO. If
you pay off a credit card you are going to receive constant
offers, either checks in the mail or special offers, to use that
credit card again. Be sure to cut up the credit card you paid
off and contact the company to cancel.

#6. Do not obtain credit card protection.

Many credit card companies offer credit card protection for a
fee. This is normally a percentage of the outstanding balance.
According to the Federal Trade Commission,
(http://www.ftc.gov/bcp/conline/pubs/alerts/lossalrt.htm) you
are only obligated to pay the first $50 when your credit card
is used by someone unauthorized. You could easily pay several
times the $50 for credit card protection in a year.

#7. Don't keep more that two credit cards.

The biggest reason for this two card rule is that it is easier
to keep track of possible errors and current interest rates
with no more than two cards. Some credit card companies will
increase your interest rate without prior notification. You must
look at your statements each month and inquire about any
discrepancies.

#8. Always mail your credit cards bills at least seven days
prior to the due date.

Currently, credit cards companies are allowed to charge a
maximum of $29 for late fees if the bill is not paid on time.
With delays in the mail and processing time once the bill
reaches the credit card company offices, you need at least 7
days to be sure it is posted on time.

#9. Always protect your credit card numbers from others.

Be sure that you don't allow unauthorized people to see your
credit card numbers. It is very easy to use someone else's
credit card, as stores are very lax in their security of
handling credit cards, seldom checking to see if the signature
on the back of the card matches the one on the credit card form.
Never give your credit card number over the phone unless you
know who you are talking to.

#10. Don't use credit cards for groceries.

Buying things like groceries with a credit card, unless you
pay the card off each month, is a no win situation. Buying
recurring items like groceries will only tend to increase your
credit card debt each month.

About the Author

Terry Rigg is the author of Living Within Your Means - The Easy
Way http://www.homemoneyhelp.com/ebookadpage.html and editor
of The FREE Budget Stretcher Newsletter and Budget Stretcher
web site http://www.homemoneyhelp.com. He has 25 years of
experience counseling individuals and families concerning their
personal finances.

Spam emails More free articles

Related articles


  1. Magazines for Kids - A New Generation
  2. MOSQUITOES ARE A HAZARD TO YOUR PET'S HEALTH TOO
  3. What You Can Learn About Life From Your Child
  4. Empty Nest Syndrome
  5. Do You Have A Vision?
  6. Parenting
  7. "DO YOU LIKE HER?"
  8. Reflections on the Peace Prayer of Saint Francis of Assisi
  9. Raising Creative Grandchildren
  10. Paying for your Child's College Education
  11. Decorating a Child's Room - 8 Simple Strategies to Make You Both Happy!
  12. Spare Your Kids To 7 Most Distressful Divorce Parenting Situations
  13. Beyond the Words, a Child's Voice
  14. Overextended Infants
  15. Glowing Goblins
  16. The Best Way to Protect Your Children in the Car
  17. Forbidden - An Author Interview
  18. What I learned on family vacation
  19. How to Care for Your Photographs
  20. ANTIQUE MAPS & PRINTS - UNIQUE HOLIDAY GIFTS WITH A PERSONAL TOUCH
  21. Book Review of "Where's Stretch?"
  22. An Overlooked Plan for Bush, Kerry, Democrats, Republicans, and Healthcare Costs
  23. $ 12 and 90 minutes to change your life !
  24. How Your Family's Home Page Can Pay for Itself
  25. Family as an Entity
More related feeds
Top 5 Things Every Entrepreneur Should Know
My weakness is not organizing and keeping receipts and not entering all this into QuickBooks. ( Ed. note - If you do all your banking online and pay everything wa debit or credit card, you are half way there in your bookkeeping.) ...

How to Be a Savvy Credit Card Holder
Taking on a new credit card should be like shopping for quality furniture. Look for a card you could stand to keep for years. Try not to accumulate store cards, because they usually have low credit limits and high interest rates. ...

Easy business on On (flash website designs) Ebay
By offering your customers the conveniences of using EBay to purchase your goods, you are letting them know you are serious about your business and your products. Prior to becoming a seller on EBay there are a few things you should know ...

Things a credit card user should know
Credit is part and parcel of today’s way of life. The use of credit cards is now a commonplace. This often leads to increased spending, so it’s vital to learn how to handle credit wisely if you are to manage your money well. ...

Law Professor Says Financial Education Should Stop
How to live within that budget - What credit cards are - How credit cards work. Those are the basics. The bare minimums that I think every high schooler should know when they leave school. Those things haven’t changed. ...

Books That Will Help You Learn How to Get Out of Financial Debt
It may seem impossible to you that you will ever learn how to get out of financial debt, but you should know that it is possible, no matter how deep in the hole you are. There are a few things that you are going to need to learn to ...

Unsecured Credit Card Application - Shopping For A Credit Card
To know what type of credit card fits your needs, you should review a few of your options. For more tips, visit the credit-cardguides online. Find articles covering every topic related to credit cards at Credit-CardGuides.com, ...

The things you should know when comparing credit cards
Learn how to compare credit cards before applying for one and what you should have so that you can get approval for one.

A Guide to Get Out of Credit Card Debt
A couple of things you can do to consolidate are to consider a balance transfer to a lower interest credit card or a home equity. The Federal Trade Commission has an excellent page on debt consolidation that’s well worth checking out. ...

Things you shouldn't do with your Maybankard Visa
You should do something fast as this post might reflect peoples thought about the glorious of debit card... Dad can't believe it either.... Lucky he's only used his credit card for petrol rather than using debit card. You know, not many ...

 


 

© 2007 articlesreader.com - All Rights Reserved