Credit Cards*
- You may view a list of the
most competitive credit card interest rates in the country by going
to Cardweb.com.
- If you cannot pay off your
full credit card balance each month, a lower interest rate will save
you money. If you do pay off your balance in full each month, choose
a card with no annual fee.
- Report billing errors and
unauthorized charges to your credit card company immediately. Keep a
list of credit card numbers and card company phone numbers to alert
a credit card company immediately if a card is stolen or missing. If
you report the incident immediately, the most you will have to pay for
any unauthorized charges is $50 on each card, regardless of how high
the total unauthorized charges go before you report your card missing.
- Don't give your credit card
number over the phone to unfamiliar companies or to people who say they
need it to "verify" your identity in order to give you a prize.
- After signing your name
on a credit card charge slip, remove the carbons and destroy them.
- A Federal law gives all
consumers equal access to credit. The Equal Credit Opportunity Act makes
it illegal for creditors to discriminate against applicants on the basis
of race, sex, national origin, marital status, age or religion, or because
of public assistance income.
- Be cautious of offers for
"secured" credit cards. These cards usually require you to set aside
money in a separate bank account in an amount equal to the line of credit
on the card to guarantee that you will pay the credit card debt. Some
of these offers advertise that secured cards can be used to "repair"
a bad credit record, but you should know that no matter how well you
handle this account, your payment history on your past debts still will
be taken into consideration when you apply to other lenders for credit
or for employment or housing.
Courtesy
of The U.S. Office of Consumer Affairs
Cardweb.com - Premier site for comparing credit cards, comparing interest rates, and
finding the best overall offer. Provides information for various types
of payment cards including credit, debit, ATM, loyalty, and phone cards.
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