If you use credit cards, make sure you both know AND use these 4 quick tips.
(1) Read
Make sure you read the information you get from your card issuing company. Read every form they send you. If you are having trouble understanding what it means to your situation, talk to a trusted friend, or call the company’s help line.
(2) Reconcile
That is a fancy word that means to verify the amounts. Make sure you study the statement you get each month. Companies may only allow you 15 days to complain about unknown charges.
(3) Pay on Time
Make sure you avoid late payment fees. The best habit is to pay the bill the day you receive it. If you do not, you may be charged a late payment penalty, and it may affect your credit rating.
(4) Pay it All
Avoid carrying a balance every month because you will end up paying far more than you should for everything you charge to your card. If you pay the full balance every month, you will never pay a penny of interest. Considering many companies charge 18% or more, this can save you plenty.
Credit Cards Can Be Your Friends
Properly used, credit cards are your friends. Follow the above 4 quick tips and the friendship will last a lifetime.