The Dos and Don’ts in Managing Credit Cards

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The Dos and Donts in Managing Credit Cards
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• In the paragraphs below, we have listed things
  that you should do and not do when it comes to
  managing your credit card account. Here are 3
  dos, 3 donts in managing credit cards.

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DO pay your credit card bills on time.

• This way, you wont be penalized with late
  payment fees and surcharges. More importantly,
  you can establish a good working relationship
  with your card issuer which can help you qualify
  for cheaper credit card programs, later on.

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DONT make just the minimum payment required by
your issuer, or else your interest payments will
surely balloon out.

• Always remember that by paying your credit cards
  for bad credit unsecured charges in full, each
  month, you can minimize the payments you make on
  interest. Moreover, such habit will make it
  easier for you to juggle your credit card bills
  with your personal or household expenses.

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DO examine your billing statements and credit
reports.

• This is important not only to find out how much
  you owe your credit cards for bad credit
  unsecured issuers. More importantly, this tip
  will give you the opportunity to check if there
  are errors in your credit report that might pull
  your score down and ruin your chances of
  qualifying for excellent credit cards and the
  best loan packages, in the future.
• Suppose you find an outdated account, an
  unauthorized charged or an incorrect payment
  record in your credit report. What should you do
  about it? You have to dispute such entry right
  away, by sending a letter of credit dispute to
  the bureau that issued your report. Then, wait
  for the credit reporting agency to complete its
  investigation on your claim. If it finds out that
  your credit dispute is valid then soon you will
  receive an updated copy of your credit file, plus
  a full report that tackles the results of the
  investigation conducted by the credit bureau.

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DONT spend beyond your credit limit.

• Maxing out your credit card will not only cost
  you overdraft charges and declined transaction
  fees. It can also cause your debt to limit ratio
  to rise which will in turn cause your credit
  score to drop. So, resolve to spend within your
  credit limit. And try to determine the available
  balance on your credit card before using it to
  pay for a purchase or for a bill.

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DO keep receipts and proofs of payment.

• This is because you will never know when you
  might need them to dispute incorrect information
  in your billing statements as well as in your
  credit reports. So, always save financial records
  and keep them in a safe yet easy-to-access area
  in your home.

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DONT disclose your credit card information in
shopping sites with low security features.

• More and more cardholders today become victims of
  credit fraud and identity theft. After all, they
  dont heed the advice of experts to check out the
  security features of shopping sites before
  disclosing and transmitting sensitive information
  via the internet.
• Now, to avoid getting ripped off, we suggest that
  you look for security indicators in websites
  before filling out online forms with your credit
  card information. For instance, look for the code
  https in the URL bar, the padlock icon situated
  beside the URL bar or at the bottom of the
  webpage or for logos of companies that offer
  accreditation for online security, such as
  VeriSign, in the webpages you frequently visit.