"I think money was stolen from my
credit card" or "I
might have blocked my card in the ATM" - these are frequent
problems that bank customer-support officers usually hear from
agitated clients. Incorrect use of credit cards or wrong
interpretations of their functions are frequent even after tens
of years of credit-card extensive use. Actually, there are 4
most frequent causes for problems; one is related to
overspending, the second is about missing money; this is usually
connected to the 3rd problem - unauthorized use and finally
there is the issue of forgotten information. However, there are
a few simple things that you can do in order to avoid hassle.
First and foremost, remember that your credit card has a limit.
When you open a credit line you will be given a certain credit
limit that can vary from twice your monthly income to 3 or maybe
4 times that income, depending on past credit history. However,
do not spend more than you can pay back. At the end of each
month you will have to payback the borrowed money and there will
be no exceptions from the rule. So lesson number one is "spend
within limits". The second thing you need to do is keep a record
of your expenditures. Keep bank statements, receipts and carbons
in a safe place and at the end of each month make a calculation
of your deposits and withdrawals. If there is any discrepancy
between the two, make sure to contact your issuer bank
immediately and solve the situation. .
This brings us to the next issue - the unauthorized use of
credit cards. This is a wide problem mainly due to theft. It is
safe to keep your credit cards in a wallet, separately from any
other papers so that you do not lose cards; it is also
recommended that you make sure there is no one watching over
your shoulder when you type you personal identification number
and off course there is the rule of never giving out the PIN to
anybody.
There are many things we need to remember and keep track of. One
of these things is credit card information such as name of
issuer, year and month of expiration, credit card number and PIN
and the help-line phone number. If you feel there is too much
data to memorize it is best to have everything written down and
kept in a safe place like a deposit box or your telephone -
there are telephones that offer a special notebook feature,
which can only be accessed by introducing a code and where you
can store data safely. Therefore, another thing you need to do
is Keep Records of Important Information.
Managing credit cards is not child's play. You will need to keep
good track of your money if you do not want to overspend or lose
track of expenditures. You also need to learn that your money is
your business and thus attention needs to be paid when giving
out credit card identification information. Last, but just as
important, you need to keep in handy support-centre contact
information in case you need to report irregularities or you
have questions to ask. Attention and common sense is actually
all you need in order to use a credit card wisely.
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