Important Reminders for Credit Cardholders

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Important Reminders for Credit Cardholders
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• Credit cardholders, like you, should pay close
  attention to the reminders we have listed below.
  We believe that by keeping these things in mind,
  you can improve your chances not only of building
  a solid credit profile but also of protecting
  your financial prospects.

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• 4 Things You Should Always Remember

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Your spending habits can have a huge impact on
your credit history.

• After all, most card issuers today submit reports
  of your credit and payment transactions to the
  three major credit bureaus. And these firms, in
  turn, compute your credit score based on the
  reports they receive.
• This means that an irresponsible credit habit
  like spending beyond your credit limit or
  skipping or completely defaulting on your credit
  card bills - can have a negative impact on your
  credit history. In fact, it can pull your score
  down and ruin your chances of scoring excellent
  credit deals.
• So, you should resolve to manage your credit card
  in the best way you can. Bear in mind that good
  credit habits can help you maintain an excellent
  credit standing or rehabilitate your damaged
  credit history.

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Making on-time and complete payments can help you
save a great deal of money.

• Keeping up with your credit card bills is not
  just the best way for you to build or maintain a
  good credit history. It is also an excellent way
  for you to generate huge personal savings. After
  all, by making prudent payments, you can avoid
  incurring penalties usually charged to
  cardholders who pay their bills late. Moreover,
  by paying your bills in full, you wont have to
  worry about shelling out way too much funds on
  interest charges. That way, you can set aside and
  use your money for more important expenses.

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Submitting multiple card applications is a big
NO-NO

• especially if youre already managing at most two
  lines of credit. Keep in mind that applying for
  more unsecured credit cards for poor credit will
  only increase your likelihood of falling into
  debt traps. At the same time, it can cost you
  your good credit standing. After all, you lose
  valuable points from your credit score each time
  your credit report gets pulled out in response to
  a credit application.
• This only means that you have to content yourself
  with your existing lines of credit. And resolve
  to apply for another credit program ONLY WHEN IT
  IS ABSOLUTELY NECESSARY.

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Always examine your billing statements.

• Make sure that the statements you will receive
  are always accurate and up-to-date. Find time to
  review all your transactions and look for
  receipts or proofs of purchases that will help
  validate each transaction youve made.
• In case you discover an unauthorized charge made
  on your credit card, immediately write a letter
  requesting the card issuer to investigate the
  transaction. That way, you wont be held liable
  for charges you never made. At the same time, the
  charge wont have a negative impact on your
  credit history. More importantly, you can help
  the authorities apprehend the party responsible
  for the fraudulent or unauthorized transactions
  made using your credit card.