Charge cards are detrimental at best, for most people, and have been this way since their inception. If you don’t know what to do or don’t have access to good advice, bank cards can be hard to manage. Anybody who wants to build up their credit card knowledge and learn how to use them wisely will find the following article useful.

Don’t automatically run out and get a bit of plastic as soon as you are of age. It takes a couple of months of learning before you can fully understand the responsibilities involved in owning credit cards. Take the time to learn how credit works, and how to keep from getting in over your head with credit.

Always read emails or letters from your credit card company immediately. If a company has notified you that they will change a policy, they are within their rights to do so. If you don’t like the changes, you have the right to cancel your credit account.

Don’t write your password or pin down in any circumstances. Be sure to keep the password in your mind only, so you’re the only person who can access it. If you document your pin number, and keep it with your card, anyone can use it.

Credit Card

Keep a list of the “lost/stolen card” phone numbers for each of your credit card issuers along with your credit card number for reference. This list should be kept in a safe location away from your charge cards. This list ensures that you can contact your creditors promptly if your wallet and cards are lost or stolen.

Know what recent credit card laws have been created recently. For example, no credit card company can impose a retroactive rate increase on you. Another example of something that credit card companies are prohibited from doing, is double-cycle billing. Read up on credit card laws. Look up federal legislation regarding credit card usage and fraud.

Talk over your interest rate with the company that issued your card. You can usually negotiate your rates with your creditor. As long as you have kept up with your monthly payments and used your credit card responsibly, a credit card provider is very likely to decrease your credit card’s APR when you ask them.

If you are being tempted over to a new card which is offering a low interest rate to begin with, ensure you read the finer details carefully. Understand what the interest rate will revert to after the initial introductory rate. Sometimes, a very low introductory rate masks a much higher rate after the initial period passes. Ensure that you understand the situation before you sign up.

Monitor your credit report closely to get an idea of how you are handling your credit accounts. This can also allow you to see how the company is handling your account. Keep your eye out for errors in the reporting. If there is one, contact both the credit card company as well as disputing the error with the credit bureau.

Report a missing card immediately to your credit card company. If a card is stolen and used before it is reported missing, you could be held responsible for any charges made. Credit card companies can’t hold you responsible if you report your credit card stolen.

Pay no money upfront when you receive a credit card, unless the card is secured. No real credit card company charges an upfront fee. In addition, you should never provide anyone with money to assist you in obtaining a card. If your credit is strong, you will not have any problems finding a card by yourself.

As stated previously, charge cards are a constant source of fear and frustration. If you know how to use them, though, they do not have to cause you trouble. Knowledge is the key to using credit cards appropriately.