Here are 15 things to keep in mind when using credit cards:
(1) Interest rates: Understand the interest rates and fees associated with your credit card, including the annual percentage rate (APR) and the penalty APR.
(2) Rewards and benefits: Know the rewards and benefits offered by your credit card, such as cash back, points, miles, or sign-up bonuses, and take advantage of them.
(3) Payment due dates: Make sure you are aware of the payment due dates for your credit card, and make payments on time to avoid late fees and negative impact on your credit score.
(4) Credit utilization: Keep your credit utilization low, which is the amount of credit you use compared to your credit limit. A high credit utilization rate can hurt your credit score.
(5) Credit limit: Know your credit limit and try not to exceed it. Going over your credit limit can result in fees and increased interest rates.
(6) Fraud protection: Be aware of your credit card’s fraud protection policies and know how to report fraud if you suspect it.
(7) Balance transfers: If you are transferring a balance from another credit card, know the terms and fees associated with the transfer, including the interest rate and balance transfer fee.
(8) Foreign transaction fees: If you plan to travel or make purchases abroad, know if your credit card charges foreign transaction fees and how to minimize them.
(9) Rewards expiration: Know when your rewards points or miles expire and how to maximize their value.
(10) Annual fees: Some credit cards charge an annual fee, so be aware of this fee and weigh the benefits of the card against the cost.
(11) Sign-up bonuses: Take advantage of sign-up bonuses offered by credit cards, but be aware of any requirements to qualify for the bonus.
(12) Interest charges: Know when interest charges are applied to your credit card balance, and try to pay off your balance in full each month to avoid interest charges.
(13) Credit score impact: Be aware of how your credit card usage can impact your credit score, and work to maintain a healthy credit score.
(14) Terms and conditions: Read the terms and conditions of your credit card, including the fine print, to understand all the fees, benefits, and requirements associated with the card.
(15) Credit card issuer customer service: Know how to contact your credit card issuer if you have any questions or concerns about your card, and keep their customer service number handy in case of emergencies.