A lot of people now own more credit cards than they really need and this can make spending responsibly more difficult. This article includes several helpful tips for using credit cards wisely. We call it the ACTNI approach.
If you have made a late payment or missed one, ask the card company to lower the fees and interest rates. Credit companies have the right to raise rates or charge fees if you make payments late. You could usually get these charges reduced by calling your credit card provider.
If you are having financial problems, talk with your credit company. If you are going to miss an upcoming payment, work with your creditor to come up with a solution. This communication may keep the company from filing a late payment report with credit reporting agencies.
By keeping track of all your credit card purchases, this will help you from spending more money than you can actually afford. It can be easy to spend more on your credit card than you intended, so make the decision to keep a total on a spreadsheet or in a written record.
Negotiate for a better interest rate, especially if you have been with the company for a long time. You can negotiate with the company that owns your credit card and try to get a lower interest rate. You may have a good chance to get your Annual Percentage Rate (APR) lowered if make sure you make timely payments, and have a good track record.
Work at improving your credit score if you want a credit card with lower interest rates. Credit card companies offer lower interest cards to consumers who have good credit scores. Cards with more perks and lower interest rates are offered to people with higher credit scores.
The advice about credit cards gleaned from this article will help everyone eliminate their fear about using these cards. When used in the correct manner, credit cards can be very useful, so fear not! Just remember what you have learned and everything will be just fine.