Who Wants A Better Interest Rate On Their Credit Cards?
YOU DO! Here’s How!
We hear words like credit score , bad credit, and credit cards every day, but if you are over 50 you remember a world without those things and we got by – somehow.
They are much more convenient than carrying wads of cash (not that I ever did) and it’s hard to imagine life without them. The credit card industry has evolved over the last 30 years, part of a long-term plan. And with the ease of using them now (just swipe and go!) it’s hard NOT to use one when you’re out shopping.
Since this is the world we live in you need to know how to get the most out of it by getting the best interest rates.
Here How:
In the world of plastic you must have a good credit rating. Life is hard enough without adding unnecessary headaches. Pull your credit regularly and make sure that there’s nothing on your report that shouldn’t be.
Pay all your creditors bills on time and it’s best if you keep your credit debt at 20% to 30% of your limit.
Be careful not to acquire too many cards. You should have no more than two or three. This will keep your debt manageable. Most of the time when people get into financial trouble it’s because they have too many cards.
If you follow step #2 you will begin to establish yourself as someone who can be trusted, something we all would like to be. Which means when you apply for larger debts, like a home or car , the lenders will give you a better interest rate.
Using your cards wisely will boost your credit score and also enable you to qualify for low interest cards as well.
Protect Your Major Purchases
Under the Fair Credit Billing Act of 1999 if you buy something that is damaged or defective with your credit card, you have the right to stop payment until it is made right. You need to make a good-faith effort to work things out. If you can’t solve the problem you can ask the company to investigate and solve the problem.
Note – if you used a debit card this law does not address that.
Using A Credit Card For Online Shopping Is Safer
The Fair Credit Billing Act also covers online purchases. Many people are still wary about shopping online. You don’t need to be. The industry has made a great effort to make online shopping safer and the sites that take credit cards use an encrypted method to make certain your numbers are safe. Of course we all know in this life nothing is certain except death and taxes, so theoretically it is not safe, but it is 99.9% safe – and that’s pretty safe.
Check your receipts the moment you receive your statement (just in case) for any errors.
For more credit help, please visit our site. We have been there and know how bad credit can affect everything, including your health. Take a look!
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