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Credit card issuers offer a wide variety of terms.  Consider and
compare all the terms, including the following, before you select
a card:
1.Annual Percentage Rate (APR) - the cost of credit as a yearly
rate.
2.Free or Grace Period - allows you to avoid any finance charge by
paying your balance in full before the due date.  If there is no
free period, you will pay a finance charge from the date of the
transaction, even if you pay your entire balance when you receive
your bill.
3.Fees and Charges - most issuers charge an annual fee; some also
might charge a fee for a cash advance or if you fail to make a
payment on time or go over your credit limit.

Shop around for the terms that are best for you.  Before giving
money to a company that promises to help you get a credit card:
- find out who the card issuer is and get the credit card terms in
writing, including all the fees and whether a deposit is required;
- try to apply to a card issuer directly, rather than giving money
to a third party; if you don’t get the credit card, you might not
be able to get your money back;
- beware of “credit cards” that only allow you to buy from certain
overpriced, restricted goods catalogs; and
- beware of companies that promise “instant credit” or guarantee
you a credit card “even if you have bad credit or no credit
history;” no one can guarantee you credit in advance.

Using a Credit Card

Know your credit card protections.  When you have used your card
for a purchase and you don’t receive the goods or services as
promised, you might be able to withhold payment for the goods or
services.  Card issuers must investigate billing disputes.
If your card is lost or stolen, you are not liable for any
charges if you report the loss before the card is used.  If the
card is used before you report it missing, the most you will owe is
$50.
Protect your credit record.  Pay bills promptly to keep finance
charges low and to protect your credit rating.  Keep track of your
charges and don’t exceed your credit limit.  Report any change of
address prior to moving so that you receive bills promptly.

Preventing Credit Card Fraud

1.Sign cards when they arrive, so no one can forge your
signature on the cards and use them.
2.Keep copies of all sales slips.  Open credit card bills
promptly and compare the sales slips with the charges on your bill.
3.Promptly report any suspicious or unauthorized charges to the
card issuer.
4.Never give your credit card number over the phone unless you
have made the call and you know the company is reputable.
5.Draw a line through blank spaces on charge slips.  Do not sign
a blank charge slip.
6.Destroy carbons and incorrect charge slips.
7.Keep a record of your card numbers and expiration dates and the
phone number of the card issuer in a safe place.

Related Posts

• Using Credit Cards Wisely
• Shopping is the First Step