Five Things You Should Not Do With Credit Cards

Youre probably familiar with lists of what you should do with your credit cards and how to use them responsibly

, but what about the things you shouldnt be doing with credit cards? Today we will discuss five things that you should avoid doing with credit cards.

1. Dont Misunderstand the Introductory Rates: Typically this period ranges from 3-18 months and knowing exactly when it starts and ends is essential if you are carrying a balance. You can find low introductory rate cards at CreditNowUSA.com.

2. Dont Not Reading the Fine Print: Not being aware of how long your billing cycle lasts, annual fees or penalties for going over your limit can cause hundreds of dollars in damage.

3. Dont Exceed Your Credit Limit: At all times you should have a very good idea of how much is charged on your card so that you dont exceed the limit and get hit with a fee.

4. Dont Make Late Payments: Paying after the due date will net you a high fee each and every time it happens. If you find that your payment date doesnt work for you, call your credit card company to ask for your payment date to be changed.

5. Dont Make Minimum Payments: This is the worst thing you can do to help yourself get into more debt or stay in debt.

Your credit score is the number potential creditors use to determine how reliable you will be as a borrower. If your credit score is good, the creditor will assume you are a good risk to take. You will be approved for the maximum loan amounts, and you will be offered the lowest possible interest rates. However, if you have a low credit score, you wont be able to borrow as much money, you will be quoted higher interest rates, and you may even be denied credit altogether. For this reason, knowing your credit score is very important.

Knowing your credit score allows you to monitor your credit activity and improve your rating when possible. For example, if you find that your credit score is lower than you would like, you can view your credit report to determine the cause of your low rating. You can then take action to improve the score over time. In some cases, you may even find that false information on your credit report is causing your score to be lower than it should be. In such cases, you can petition the credit bureaus to remove the false information and make the necessary changes to your score.

If you monitor your credit score regularly, you will know immediately when your financial activity lowers your rating. Credit scores may be lowered for late payments, new debts, insufficient credit history, or inquiries into your credit history. When you learn that your credit score has been lowered for one of these reasons, you can take steps to ensure that it does not happen again. Furthermore, monitoring your credit score can often help you identify credit fraud and identity theft. If you notice a sudden change in your score and you find strange information on your credit report, you can identify the responsible party, stop him in his tracks, and repair your credit report as soon as possible.

If you are interested in improving your credit score or learning more about what affects it, visit CreditNowUSA.com. CreditNowUSA offers both debt relief and credit repair services, as well as identity theft protection.

For more information, go to Credit Cards at http://www.creditnowusa.com/Credit-Cards

by: Money Lender

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