Credit Card Know-How

When you consider the prominent role credit cards play in our daily lives - from the convenience and freedom that comes with using credit wisely, to the negative impact resulting from overspending and mismanagement - it's just common sense to become thoroughly versed in the basics of sound credit card use.

We've all discovered the convenience of having credit cards to use for shopping, dining out, reserving hotel rooms, renting cars, and many other things. But have your ever explored the many extras you get from your credit card company? Depending on which lender issued your credit card, there may be a wide range of offerings available to you.

Special Offers from Your Credit Card

In today's marketplace, consumers have many different credit cards to choose from when it comes to obtaining new credit. Before you decide on a new lender, be sure to ask about what types of special offers or promotions your credit card company provides its customers. Here's a rundown of some of the more common perks from credit card companies.

Paying Your Credit Card Bill Online

Are you leaning toward discontinuing receiving paper statements in the mail and start paying your credit cards and other bills online, but haven’t taken that step yet? There’s no need to be hesitant. Online bill paying has become the method of choice for many American consumers who want the convenience of online account management while saving time and money.

Never Have a Late Fee Again

If you've ever sent a late payment to your credit card company, you know how painful the consequences can be. First, a late payment fee is assessed on your account and added to the existing balance; second, you may well see a permanent increase in the annual interest rate on your card. Plus, depending on a credit card company's policies, your other credit card issuers may increase your interest rate as well. Yes, being late on a single credit card payment can have significant financial consequences.

Dealing With Credit Card Billing Errors

Credit card billing errors are frustrating, but if you experience opening your monthly statement and finding erroneous charges, take heart in the knowledge that federal law is in place to protect your rights and to correct the error.

Extras from Your Credit Card Company

Avoiding common credit card mistakes

Your credit cards should make your life better; they should never be the cause of maxed out budgets, financial stress, and damaged credit scores. By learning to recognize the most common credit card mistakes, you'll hold the reins and stay in control of your credit cards - instead of your credit cards controlling you. Some common mistakes to watch for include:

Making the minimum payment each month
Carrying too many credit cards
Not shopping around to get the best credit card for you

Benefits of Online Statements

Chances are you've received notices from your credit card company about switching from traditional paper statements delivered through the mail to paperless online statements. Why switch to online credit card statements?

Best Ways to Use Credit Cards

If you're like most American consumers, you depend on the convenience and versatility of the credit cards you carry. From shopping online, to buying airline tickets and guaranteeing hotel reservations, to renting cars, credit cards simplify our lives. If you use your cards in the right way and for the right reasons, they will enhance your financial picture instead of becoming a liability.

Can You Lower Your Interest Rate?

When it comes to managing your credit, obtaining the lowest interest rates you can qualify for is a big component of any successful financial plan. Most American families have as many as 12 or 13 credit cards, and lowering the interest rate that applies toward your account balances can save literally thousands of dollars over the course of paying off debt.