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  Chapter 5
  Using a Credit Card Wisely
  Debit Cards
  Balance Transfers
  Surprise Balance Transfers
  Changing Terms
  Read Your Statement
  What to Do About Errors
  Conclusion
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  Contents

 

Chapter 5 Conclusion

Most of the best tips for using a credit card wisely are just common sense. And, really, they all boil down to two basic points:

  • don’t use a credit card for impulse purchases; and
  • read your statement every month.

The second point is the one that trips up most people. It’s surely easier to pay the balance or minimum—or some amount in between—and move on to more interesting things.

But keep in mind that errors are fairly common on credit card statements. Even if you don’t have all of your credit card receipts handy, compare as many as you have to the items listed in your statement to make sure the dates and amounts are right.

Also, credit card issuers are heavily regulated. They have to publish the changes they’re making to your account…and they do this in the fine print at the bottom or on the back of the monthly statement. Most count on people not reading these notices.

Don’t be that person.

Next: Chapter 6 - Dealing With Credit Bureaus

 

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