New Credit Card Users Guide

exciting to use your new credit card! But wait! Before you do, it is best to know what awaits you, pertinent information, hidden things you need to know and unravel. Here are some tips and guidelines on how to effectively use your new card.

First is to check, read, know, and understand credit cards’ use conditions and agreements. There are

only few people who read credit card conditions or agreement between them (credit card users) and their credit card issuers. So upsetting that the most important thing we should check on our credit card is taken for granted. Even to those who already have credit card, it is still a good thing to read the credit condition before you use it. Because every credit card issuers have different conditions on their credit card usage.

Although there are some policies that are common among them, most of their policies varies with

issuers. There’s also variation with each type of card even the issuer is the same. So that is the first tip.

Be sure to understand and put in mind the credit card usage condition prior to using it.

It would be of great help because you will be knowledgeable of what can and cannot be done. So less mistakes less payments and less interest. It would also be helpful for you because you know what to do when a certain conflict happen. You need not to ask the customer service for information because you know it already. You have read it before hand.
 

Second know your credit card’s features. Credit cards have distinct features that set it apart from all the rest. Sometimes people choose their kind of credit card because of the distinct feature it promotes it has. It is important to know your credit card features to know what it can do for you. Thereby increasing its maximum use for your benefit. When you know the features of your credit card, you’ll also be flexible on how to manage its use.

Third, know all the important dates in your credit card. The important dates you should know about your card are the following: cut-off date, statement date, due date, card expiration date and sometimes penalty dates. Although these important dates can be seen in your credit card statement, its better if you know it by heart. So you need not to look for your credit card statement to check the dates. It would be helpful also for you to be more flexible when to schedule your purchases.

Cut-off date is date from which the record of your purchases will end. It is the basis of your billing statement. Purchase you had prior to the cut-off date will be included in your billing statement the succeeding statement. Purchases done after the cut-off date will be included not in the following billing statement but on the next billing statement after. Statement date is the date when your purchases has been compiled and logged in your account. Usually, the statement date is also the same as your cut-off date, sometimes it isn’t.

Due date on the other hand is the deadline date for payment. It is the basis for computing late charges and finance charges. So you should know when is your credit due date to avoid incurring charges and also to prevent from having a bad record. Expiration date is the date of your card renewal. Usually credit card issuers send the replacement card days before your card expire. It is equally important to know your credit card expiration just in case there has been no replacement yet; you will not accidentally swipe it, and won’t be able to use it.

Fourth, bear in mind your credit limits. Credit cards have different credit limits. Different persons also have varied credit limits. Credit limits are based on many things; your salary, financial obligations, income and many more. Credit limit is called as such because it is the limit set by the credit card issuer upon you. Credit limit is the maximum allowable amount that you can use. It is safe to always have in mind your credit limit so that you will know how much you will purchase.

Fifth. Know your credit card affiliation. It may be master card or visa, or whatever. Although it can be seen in your credit card, still you should know. Because some establishments do not accept all credit card affiliations. Sometimes it’s just master card or sometimes it is just visa that they accept. It’s wise to know so that you will not be looking at your card always just to verify what’s your credit card application. And besides when going to the mall, you are not always holding your credit card, it is always in your wallet, so it’s also for your convenience to know your credit affiliation.

Sixth. Also know where to pay your credit card bills. Yes it is also important that you know where to pay. To be able to manage your credit card account well and. maintains a good reputation with the credit card issuer because you are paying on time.

There are other things you should know about your credit card, but to help you get started these are just a few. With these in mind, enjoy using your credit card!