Keep a list of your credit card numbers, expiration dates and the phone number of each card issuer in a secure place.
Open credit card bills promptly and compare them with your receipts to check for unauthorized charges and billing errors. |
Nearly all of us use credit cards on a regular basis, and many of us could always use one more. Getting that best credit card, however, is not something that you just happen to come across, but you can get some real good deals, these days. So, before you sign-up on the next credit card application you receive in the mail, here are a few things you need to look for - otherwise you may not be getting quite the deal you thought. |
You can find lists of credit card plans, rates, and terms on the Internet, in personal finance magazines, and in newspapers. The Federal Reserve System surveys credit card companies every six months. You'll need to get the most recent information directly from the credit card company--by phoning the company, looking on the company's web site, or reading a solicitation or application. |
A FICO score is a credit score developed by Fair Isaac & Co. Credit scoring is a method of determining the likelihood that credit users will pay their bills. Fair, Isaac began its pioneering work with credit scoring in the late 1950s and, since then, scoring has become widely accepted by lenders as a reliable means of credit evaluation. A credit score attempts to condense a borrowers credit history into a single number. Fair, Isaac & Co. and the credit bureaus do not reveal how these scores are computed. The Federal Trade Commission has ruled this to be acceptable. |
I have a credit card with a credit limit greater than $10,000
I have NEVER been more than 60 days late on a credit card, medical bill or loan payment
I have never declared bankruptcy |
The annual percentage rate--APR--is the way of stating the interest rate you will pay if you carry over a balance, take out a cash advance, or transfer a balance from another card. The APR states the interest rate as a yearly rate. |
The grace period is the number of days you have to pay your bill in full without triggering a finance charge. For example, the credit card company may say that you have "25 days from the statement date, provided you paid your previous balance in full by the due date." The statement date is given on the bill. |
Other fees. Some credit card companies charge a fee if you pay by telephone (that is, if you arrange by phone for payment to be transferred from your bank to the company) or to cover the costs of reporting to credit bureaus, reviewing your account, or providing other customer services. Read the information in your credit card agreement to see if there are other fees and charges.
|
If your credit card is lost or stolen--and then is used by someone without your permission--you do not have to pay more than $50 of those charges. This protection is provided by the federal Truth in Lending Act. You do not need to buy "credit card insurance" to cover amounts over $50. |
A charge for something you didn't buy
• A bill for an amount different from the actual amount you charged
• A charge for something that you did not accept when it was delivered
• A charge for something that was not delivered according to agreement
• Math errors
• Payments not credited to your account
• A charge by someone who does not have permission to use your credit card
|
« Start Prev
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
Next End»
|