Some people view credit cards suspiciously, as if these pieces of plastic can magically destroy their finances without their consent. The truth is, however, credit cards are only dangerous if you don't know how to use them properly. Read on to learn how to protect your credit if you are using credit cards.
Learn how to manage your 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.
Try your best to use a prepaid credit card when you are making online transactions. This will help so that you do not have to worry about any thieves accessing your real credit card information. It will be much easier to bounce back if you are scammed in this type of situation.
Be careful to stay away from actions that cause fees on your credit cards! Fees for missed or late payments, for instance, can be as high as $35 or more! This can also lead to your credit card company increasing your interest rate. Know what triggers can cause these fees by reading the fine print on any card you use.
When using your credit card online, only use it at an address that begins with https:\\. The "s" indicates that this is a secure connection that will encrypt your credit card information and keep it safe. If you use your card elsewhere, hackers could get hold of your information and use it for fraudulent activity.
Do not think that just because you paid your credit card account off in full that the account is closed. The account will not be closed until you contact the credit card company and request it to be closed. This should be done in writing. The company should confirm the closure within fifteen days.
If you are going to make purchases over the Internet you need to make all of them with the same credit card. You do not want to use all of your cards to make online purchases because that will increase the chances of you becoming a victim of credit card fraud.
Upon finding out that you have lost your credit card, or that it becomes stolen, alert your credit card company immediately. Your card provider can use anti theft techniques, such as locking your account, to prevent anyone else from using your card to buy items and rack up unwanted charges.
Credit cards are often essential for young people or couples. Even if you don't feel comfortable holding a large amount of credit, it is important to actually have a credit account and have some activity running through it. Opening and using a credit account helps you to build your credit score.
As you can see, credit cards don't have any special power to harm your finances, and in fact, using them appropriately can help your credit score. After reading this article, you should have a better idea of how to use credit cards appropriately. If you need a refresher, reread this article to remind yourself of the good credit card habits that you want to develop.
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