Holiday Credit Card Tips
With the holidays quickly approaching, many of us will be using our credit cards for many various reasons to purchase gifts and other expenses. We thought it would be appropriate to offer some tips for using your credit card.
- Use for purchases - Use your credit card for large purchases on things like electronics where many issuers will extend existing manufacturer’s warranty and provide other valuable benefits. Plus, you can always dispute unsatisfactory products or services and use your statement as a way to make returns or exchanges if you lose your receipt.
- Don’t overspend - Don’t spend more on your credit card than you could afford to pay off within three months after. You still have to pay for all those gifts and those large purchases may loose their novelty when you’re still paying for them in July.
- Maximize your reward - Use a cash back or other reward type credit card. Earn a little something extra for yourself by making purchases with your credit card instead of cash, a debit card or a check.
- Use a virtual credit card - If you plan to purchase gifts online this year with millions of other people; do something to protect yourself. If you have a Bank of America credit card, a Citi credit card or a Discover credit card, then utilize a virtual credit card when shopping online. Visit here for more information about how to generate a virtual credit card number.
- Double-check your bill - Be sure to closely examine your bill each month for charges. Using any form of payment often can increase the chance of billing mistakes. Reviewing your statement each month will enable you to quickly fix errors or even fraudulent charges.
- Pay your bill early - The holidays are busy and we all know it. Don’t damage your credit for years because you forgot to make a payment on time. Make your payment online or mail it early with plenty of time to arrive before the due date.
- Pay off existing debt - Before you spend that entire bonus, pay off some other credit card debt if you have some. You will be glad you did when you are not still paying for purchases possibly made a year or more ago.
