Credit card debt isn't always a bad thing. Developing responsible credit card habits can increase your credit score and keep your debt under control. Credit card responsibility includes making sure your account information is safe and that any unauthorized transactions are reported immediately to your credit card company and the credit reporting agencies.
Statements
It can be easy to just pay your monthly credit card statement and not take a detailed look at any of the information on it. But take the time to look at your statement and check for irregularities and read any announcements from your credit card company. Report any unauthorized transactions to your provider and the credit reporting agencies immediately. Keep all your credit purchase receipts and compare them to the purchases on your statement to make sure the correct amount was charged to your account. Always read the account announcements on your credit card bill, because they may contain important information about your interest rate, your billing cycle or paying off your balance.
Pay on Time
According to CreditCards.com, there are many reasons to pay your bill on time and, if possible, in full each month. Paying your bill in full each month will help you avoid paying interest charges on the balance due and increase your credit score by adding positive credit history to your profile. Late payments not only hurt your credit score, but they also can cause your credit card company to raise your interest rate. Setting up an automatic payment plan that deducts your monthly payment, or your entire balance due, from your checking account can help ensure that your payments are made on time.
Purchase Protection
Studenomics.com, a personal finance resource website, recommends selecting a credit card company that offers additional protection on all the purchases you make. Some credit card companies have programs that offer replacements for products you purchased with your card if those products are damaged or stolen.
Be Responsible
CreditCards.com recommends treating a credit card like any other monthly installment obligation, such as a mortgage or car loan. Do not spend more than you know you can afford to pay back.
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