5 Tips Every Credit Card Holder Needs to Know

5 Tips Every Credit Card Holder Needs to Know

This is a guest post by Harrison Vickers, a finance consultant with over a decade of experience. He enjoys writing articles in his spare time to help people understand better control their finances.

In today’s world, it’s very likely that you’ll have a credit card at some point in your life. Finances are just too difficult to manage without some sort of credit line. Not to mention, you’ll need to have good credit if you want to buy a house or a car.

Getting started with credit is something people do at various points in their lives, but once you have a credit card, it’s important that you know some basic tips to keep yourself safe and your credit in check.

5 Tips For Every Credit Card Owner

These tips are focused on making sure that you’re safe and that your credit score is fair and substantiated. Credit is an exciting, but also complex aspect of our lives. Here are five tips that will keep you safe and in the know:

1. Be Smart at Gas Stations.

Our first tip is for a place that we all visit, some more than others. Gas stations are a constant pitstop for car owners, and a place to grab a quick snack for people on-the-go. They also happen to be a place where credit scammers will plant skimmers to steal people’s data and their credit information.

Swiping at the pump will be risky until gas station implement chip technology, but they have until 2020 to make this happen, so you need to be smart in the meantime. Here are some quick tips:

  • Use pumps that are closer to the store
  • Pay inside instead of at the pump
  • Use a credit card instead of a debit card. That way, if fraud does occur, you’ll face no liability.

2. Check Your Statements and Credit Reports.

Each year, you can get a free copy of your credit reports from all three bureaus, and you should. Credit reports offer a glimpse into the information that goes into calculating your credit score. They can also be used to catch identity theft early and before it becomes severe.

Checking your credit reports can also reveal errors that are bringing your score down without your knowledge. The process of disputing these is known as credit repair, but it’s a completely valid means of getting your score back where you want it.

By targeting items that are unfair, unsubstantiated, or inaccurate on your credit report, you can bring your score up quickly. For more information on today’s credit repair companies, check out this link: http://www.debtsteps.com/credit-repair-services/

3. Set Up Mobile Alerts.

If you’re too busy to be checking your credit card statements, you should at the very least be aware of anything that happens with them. By setting up mobile alerts through your creditor, you can get text messages when things like this happen:

  • Your credit limit is about to be reach
  • Alerts on any unusual or suspicious activity
  • When your card has been used on purchases of varying sizes

Staying in the know is the best way to prevent or quickly catch any potential issues.

4. Pay Off High-Interest Debt First.

Carrying a high balance, especially on high-interest cards, can be detrimental to your score. Credit cards from stores and retailers are notorious for having high rates, for example. As rates go up, so does your minimum payment as well.

It’s a slippery slope, and one you don’t want to find yourself on. As the Federal Reserve continues to raise interest rates, you can bet that the credit companies will match them.

If you’re having trouble paying down your high-interest cards, consider looking for ways to make money online that you can set aside for this purpose. There’s plenty of ways for people to make a side income this way.

5. Get a Rewards Card.

Sign-up bonuses and rewards add value to your credit card and make it worth your while. Look for offers that provide a bonus to their rewards program, or offer cashback for purchases you make anyway like gas and groceries.

As creditors look for new ways to entice people to join them, you’ll see offers like these everywhere. Take advantage of the competition they are creating and look for the best rewards programs.

Case and point: look for offers like this that fit your needs and use them to make smarter credit card choices.

Final Thoughts 

Credit card holders can use these tips to better understand and protect themselves from fraud and detriments to their credit score.

What tips would you offer for credit card owners? Let us know in the comments!

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4 Tips for Newlyweds to Manage Their Finances Flawlessly

4 Tip for Newlyweds to Manage Their Finances Flawlessly

June is around the corner!

What does it remind you?

Isn’t it the smell of champagne and roses?

Yes! It’s again the time to rejoice the cheerful wedding bells. So, if you are planning to tie the knot soon, congratulations!

Howbeit, preparations for the wedding day might be making you worried over these months. Whether it is about picking up the wedding dress or booking a caterer for the wedding feast, your finance is moving upside down!

But, wait!

Don’t think that such monetary hotchpotch will come to an end after the wedding day. There’s still a long way to go! You and your partner are going to spend your entire life together. So, both of you have to practically start thinking about how to manage money.

No! I am definitely not scaring you! It is just that the approach in which you’ve been handling finance till now have to change now. After marriage, it’s not just you, it’s about you and your partner living together.

So, it is required for you to understand the basic know-hows effectively.

Read on to get an idea. 

1. A Serious Talk on Pecuniary Goals and Habits

You both are staying together, it’s essential to know each other’s financial point of views. Especially, you can remind your parents in such a situation. For example, how your parents used to manage money, when they used to pay the bills, what have been their successful financial decisions, and so on. It will let you both curate your financial life perfectly.

Also, you need to discuss your habits when it comes to managing money. Whether you are a saver or spender, how you usually decide on purchasing something, what your reaction will be if there is a sudden financial loss etc.

Once you are done with understanding each other’s habits, figure out a suitable way to manage money, and that’s it!

2. Stick to Your Budget.

When it’s about spending money, be cautious and stick to your plan. Let no any indulgence drive you towards unnecessary expenses. You and your partner both should cultivate this habit to save remarkably.

Moreover, you’ve to always look for smarter ways to save your hard-earned dollars. For example, learn how you should use things limitedly for household chores, how you can save on shopping etc.

One of the smartest ideas could be grabbing the lucrative discounts and coupons while purchasing everything, whether it is a small household stuff or any prominent furniture or jewellery. Additionally, there are a number of such exhilarating websites now which can let you always fetch the right discount at the right time!

Browse through the websites like Dealslands and many such others present around, you’ll definitely start believing in what I mentioned above. 

3. Numbers Are Important.

When it comes to managing finances together, you and your partner should share every related information. You should start with tallying up your asset and debts. Next, just subtract the debts from assets to determine your self-worth. Most importantly, don’t hesitate to inform your income to each other.

The conversation between you both should be open and honest. There should remain no scope for any hidden fact. The more transparently you will talk, the more perfect your financial plan will be.

4. How Do Your Budgetary Habits Differ from Your Partner’s?

It is very important for you to figure out the difference between how you and your partner think about money.

Try to find out the agreeable amount of saving for you both. You should understand what his/her priority is when it comes to paying off the debts or spending on quality things, what money saving traditions that he/she thinks are absolutely non-negotiable, and so on.

Once you have a clearer idea, an impeccable plan for managing your bucks will be ready! 

This is how you need to start planning your finances together to attain unparalleled results. Initially, it might be quite unnatural for you to understand the aforementioned facts. Well, it’s nothing wrong with that! You are new to this life.

However, don’t lag behind in following these tips in future. Thus, to manage finance as a family will not be tough at all!

About The Author

Arina is the marketing manager at DealsLands, coupons and discounts provider company. She is passionate about fashion, make-up, beauty treatment and lifestyle. In addition, Arina also supports non-profit agencies that provide healthcare solutions to handicapped and disabled people.

You and your partner need to discuss your habits when it comes to managing money. Once you are done with understanding each other's financial habits, you can figure out a suitable way to handle savings, expenses, budgeting, and more. Here are four great tips for newlyweds: #moneymanagement #newcouple #newlywed #moneytips