Read your monthly statement carefully. Be sure to do so as frequently as you can. By putting it off, you are more likely to forget to do so, or to not remember what a specific transaction was for. Additionally, if you wait too long you may lose the opportunity to resolve the problem, should one arise. Limit the number of active credit cards you have, in order to avoid getting into debt. It’s much easier to manage your finances with fewer cards and to limit excessive spending. Ignore all the offers you might be receiving, tempting you into getting more cards and letting your spending get too far out of control. Larger credit card companies are usually the best to go with when getting a new credit card. Many larger companies offer perks in addition to better customer service. A major bank credit card decision warrants looking into a major company. When all is said and done, your financial future is on the line. Consider unsolicited credit card offers very carefully before you accept them. If an offer that comes to you looks good, read all the fine print to make sure you understand the time limit for any introductory offers on interest rates. Also be aware of fees that are required for transferring a balance to the account.

Understand the recent developments in credit card law. Credit card companies are prohibited from imposing retroactive rate increases, for instance. It is also against the law to double-cycle your bill. If you understand the laws, you can understand your rights as a consumer. Two major, recent legislative changes that affect credit card companies are the Fair Billing Act and the CARD ACT.

Do not continue to apply for credit cards after the first one or two. This can have a negative impact on your overall credit score. Never leap at offers that suggest guaranteed approval, as such offers often come with exorbitant interest rates.


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