- Do not carry more than two credit cards on you at all times.
- Always keep copies of your credit cards’ toll free numbers on you.
- Do not leave your purse or wallet unattended in public.
- Make sure that you get your credit card back after buying something.
- Do not keep your cards in an obvious place in your home.
- As soon as you receive your card make sure to sign it in ink.
- Never let anyone borrow your card.
- If you do not receive new or reissued cards by the due date then call immediately to report it to the credit card company.
- If possible, make sure that only you and your postal carrier have access to your mail box.
- Shred all credit card receipts and pre-approved credit card offers before throwing them away and keep your billing statements in a secure place.
- Cut your credit card into several pieces once you close your account.
- When making online purchases, make sure that it is a secure website.
- Under no circumstances should you ever give your credit card number to anyone over the phone.
By following these simple strategies you can easily prevent credit card fraud and theft.
Financial security is probably in the minds of most people. Although the majority of the adults realize that they should plan for their future many people do not know how. There are some common mistakes people make that have serious consequences in the long run. Here we cover the four most common mistakes that happen. The first mistake people make is that they fail to pay themselves first. As soon as you get your paycheck in your hand a minimum of ten percent should be put into savings. Regardless of the debt that you are financing, that ten percent savings is crucial to one day being solvent and on your way to a very healthy financial future. The next common mistake people make is carrying a credit card balance. Credit card debt typically comes with high interest and can quickly spiral out of control. It is essential to pay off all your debt starting with the highest interest bearing debt. In order to do this quickly you must pay down more than the minimum payment every month. Put as much money as possible into eliminating that debt and you will save yourself thousands of dollars in interest payments over the years.
Most common mistakes in using credit cards
The third most common mistake people make is not having an emergency fund. An emergency fun is money that should be put away equivalent to at least three to six months worth of your cost of living. It is essential to be prepared for the loss of a job, medical expenses or major repairs to either a car or your home. The fourth most common mistake that people make is living beyond their means. Today people are told that their every desire should be gratified immediately. Unfortunately for most people this is not possible so they end up paying for vacations, cars and other big ticket items with credit. Except for a house and possibly a car there is nothing else that should ever be bought on credit. If you avoid making these four common mistakes, then your financial future should be very bright.
Looking for a credit card is always an exciting task. The lure of credit is a powerful one. However when looking for a credit card it is good to keep a few things in mind. Since good credit is almost a basic need for survival in our economy, it is good to shop around before signing up with the first credit card company you come across. Credit cards are big business and there is a lot of competition to choose from, so choose wisely. It is always best to look for a credit card with a trusted financial institution; in this manner you are assured of stability and a very low risk to yourself. The next thing to look for in a credit card is a low interest rate. There are many low interest credit cards currently on the market, however most credit card companies will not offer these low interest cards immediately, instead they will only offer these attractive credit cards to clients who ask for them.
What to look for in a credit card
Look for companies who have great introductory offers such as no interest on transfer balances for six months as incentives to lure clients away from their competition. Another thing to look for in a credit card is the fees that are charged. There is no reason to be paying user fees on a credit card that already charges interest – this is especially relevant if you do not plan on carrying a balance. Some privileged credit cards sometimes charge an annual fee for added benefits such as increased air miles or a larger insurance coverage, but in general credit cards should not charge annual fees. Also, many cards today offer their clients perks. Air miles, points towards merchandise, hotels, gas, car rentals, etc…
the list is endless. Look for a credit card that is best suited towards your lifestyle and your interests. Some credit cards even offer to personalize your card by embossing it with a design of your choice. With so much selection among credit cards there is no reason to be stuck with a high interest card that gives you nothing in return.