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8 Credit Card Quick Tips

1.  Pay all bills in full on time
2.  You should not exceed the ownership of 3 credit cards.  Have only 2 with small credit limits and 1 card with a big credit limit with a major credit card company.
3.  Use Visa, MasterCard, Discover or American Express cards because these are widely accepted.  Try to avoiding using a credit card from a chain of stores; only do this if you are unable to get a credit card anywhere else.
4.  Watch out for annual fees.  There are many credit cards that don’t even require an annual fee.
5.  When signing up for a credit card make sure you know of all fees that will be charged.  There are many hidden fees that can be avoided by simply shopping around for different cards.
6.  If, when applying for a credit card, you are denied, you have the right to know why that is.  It is required by law that you are told the reason for being denied.  You can request a credit report from one of the three credit bureaus and fix any discrepancies that may have caused this.
7.  Try to avoid overspending.  Keep a close eye on all expenditures.  You do not want to purchase more than you can afford; that is when debt is accumulated.  Try to make small purchases and pay the full balance off every month.  This will be very beneficial to you in the long run.

8.  Watch out for the interest rates.  In most cases, when you sign up for a credit card you will be offered an interest rate of 0-8%; however, always read the fine print.  These interest rates will rise to a higher interest rate anywhere from 16-23 % after the first 6 months.