Once you have a brand new credit card, you should use it carefully! So here is my list of recommendations on sensible usage:
- Do not go overboard on your usage of the credit card. Remember it is cash!
- Keep a record of your expenses, don’t just wait for the statement to come in!
- Pay your bill in full each time, and remember to keep enough cash to do this.
- If you can’t pay in full, perhaps because of a LARGE purchase, then spread it over as few months as possible, to minimize the total interest paid.
- Never ever pay late, or you may incur penalties. If you must, pay early.
- Check your statements thoroughly. Make sure you know what each charge is.
- Sign your credit cards on the back and keep them safely.
- When using your credit card, keep your eyes on it at ALL times, to prevent unauthorized swipes of your card.
- Never, ever answer an email about your credit card or click on a link in an email that leads to your credit card bank. NEVER. It is most likely ‘phishing’.
- Keep your credit card receipts safe. Don’t drop them in the store garbage can! Take them and store them. Better still, scan them to your pc and DESTROY the originals as soon as you can. You should still have the item receipt anyway. If you do, make sure that your credit card number doesn’t appear on that receipt, too.