The power to make a purchase without handing over money for it immediately is the core function of bank cards. There is basic knowledge that you need to have before getting a credit card, or you may find yourself in debt. Keep on reading in order to find great credit tips.

Report any fraudulent charges on your credit cards right away. By doing this, you will help the card company to catch the person responsible. It will also serve to make sure you are not going to be held accountable for any false charges. Most fraudulent charges can be reported with a quick phone call or email to your credit card company.

Always pay your bills well before the due date, as this is a big part of maintaining your high credit score. Making your payments late will negatively affect your score and cost you additional fees. You can save a lot of trouble by setting up automatic payments.

Annual Fees

To ensure that you don’t over pay for your premium credit card, check whether your card has annual fees attached to it. The annual fees for platinum and black cards range from one hundred to one thousand dollars, according to how exclusive the card is. If you do not need a card that is exclusive, don’t get one. This way you will avoid the fees.

Be aware of any interest rates you are being charged. Before you decide whether or not a credit card is right for you, you have to understand the interest rates that will be involved. If you aren’t aware of the rate, it could turn out to be much higher than you initially thought. If the rate is higher, you may find that you can’t pay the card off every month.

You surely wish to steer clear of late charges as well as over limit fees. These can both amount to significant sums, and can also do damage to your credit score. Pay attention and make sure you stay under your credit limit.

Do not allow anyone to use your cards. Even if it is a great friend of yours, that should still be avoided. That can lead to charges for over-limit spending, should your friend charge more than you’ve authorized.

If used correctly by the right people, bank cards are helpful. After reading this article, you should have enough information to utilize your credit card responsibly to buy things, maintain a favorable credit score and remain debt-free.