| The Beginning of the Credit Card Era | | | | begin to use your card number fraudulently. It is even |
| In 1951, Diners Club issued the first credit card to 200 | | | | possible for criminals to intercept your credit card |
| customers who could use it at 27 restaurants in New | | | | number while the fax is in transmission. |
| York City. From that modest beginning, credit cards | | | | Use caution when giving your credit card number out |
| have become an indispensable part of modern life. | | | | on the phone or on the Internet. Only give out your |
| Consumers rely on credit cards to help them achieve | | | | credit card number on telephone calls you initiate to |
| their lifestyle goals by letting them take advantage of | | | | business or organizations you trust. Never give your |
| special bargains, spread payments out over several | | | | number out to callers who call unannounced, no matter |
| months, and provide cash in emergencies. Credit cards | | | | how legitimate the call sounds. |
| have become so widespread that they are often | | | | On the Internet, look for an Internet address that begins |
| accepted as a piece of primary identification.Getting | | | | https:\. The s indicates that it is a secure |
| the most from your credit cards involves four main | | | | connection and a small padlock symbol should appear |
| steps: | | | | in the bottom right hand corner of your screen, |
| Use your credit cards wisely. | | | | indicating it is safe to transmit your credit card number. |
| Protect yourself against fraud. | | | | Call your credit card company instantly if you suspect |
| Review your credit history regularly. | | | | trouble. All credit card companies have 24 hour lost |
| Get the right card for your needs. | | | | and stolen help lines. If you lose your wallet or purse or |
| Use your credit cards wisely | | | | have it stolen, call without delay! Much fraud happens |
| Follow these simple tips to get the most from your | | | | within the first hour or two, before the victim realizes |
| card.Tips: | | | | the cards are missing. Your credit card company will |
| Pay your credit card bills on time. This is the single | | | | block your cards from being used and stop you from |
| most important thing you can do to preserve and | | | | being responsible for any charges thieves incur. |
| enhance your credit rating. Always pay at least your | | | | Take advantage of any security features your card |
| minimum payment and allow time for your payment to | | | | offers. Many newer cards have the option of including |
| reach the company if you are using the mail. | | | | your photograph on the card. This is excellent |
| If possible, pay off your balance in full each month. If | | | | protection and is highly recommended. |
| this is not possible, then make as large a payment as | | | | Review your credit history regularly |
| you can comfortably afford. Paying off or paying | | | | After you have obtained the best credit card, and are |
| down your balance is a sound financial moveone | | | | using it wisely, review your credit history on a regular |
| that will save you money on interest charges. | | | | basis. This helps ensure your history is accurate and |
| If you can’t pay off your balance in full, then | | | | that any issues have been resolved to your |
| slow down on your credit card use for the next while. | | | | satisfaction.North America has three national |
| Take time to step back and have a careful look at | | | | credit-reporting bureaus. Your credit rating is held at |
| how much you earn and how much you spend each | | | | one or more of these bureaus. When checking on |
| month. A little budgeting can save you big money | | | | your rating, be sure to contact all three, as your rating |
| down the road. | | | | may be held on file at more than one bureau. The |
| Check your statement carefully each month. Review | | | | three national credit bureaus are Equifax, Experian, and |
| your statement carefully. Do all the charges look | | | | Trans Union. Check the Yellow Pages, under Credit to |
| correct? Have any required credits been applied? Are | | | | find the numbers in your area. |
| there any unusual or unexpected charges? Your credit | | | | Get the right card |
| card company will correct legitimate errors, but only if | | | | With all the choices in cards available, chances are |
| you bring them to their attention in a timely manner | | | | good,very good, you can find a better card for your |
| before you pay your bill. | | | | needs. Today’s cards can save you money, |
| Transfer your balance to a card with a lower interest | | | | offer better features, and even support a cause you |
| rate. If you have two or more credit cards with | | | | believe in. Here are some tips on finding the right card |
| outstanding balances, consider moving the outstanding | | | | and where to check that you have the best card for |
| balances to the card with the lowest interest rate. You | | | | your needs.Tips: |
| will save money each month and simplify your record | | | | 4 Be alert for companies offering a great interest rate |
| keeping by receiving only one bill. | | | | for transferring your existing balance to their card. |
| Negotiate for a lower rate with your credit card | | | | Usually these rates are only in effect for a short time, |
| company. If you have a good credit history, you are a | | | | often six months. At the end of this time, the rate can |
| valuable asset to your credit card company. Call them | | | | revert to a much higher permanent rate. Keep your |
| and seek ways to lower your interest rate. This is | | | | eye on the Annual Percentage Rate (APR); this is the |
| often possible, but never advertised. If the interest rate | | | | figure that counts in the long run. |
| you are currently paying is very high, imply you may | | | | Lower is better: read the fine print and find the Annual |
| cancel the card and go with a competitor unless they | | | | Percentage Rate (APR). This is the interest rate the |
| adjust your rate downward. It doesn’t hurt to | | | | companies charge you if you carry a balance. You |
| ask, and you may be surprised at the results. | | | | want the lowest rate possible; as each percentage |
| Protect yourself against fraud | | | | point drop will save you money on the months you |
| While credit card fraud is a problem, here are a few | | | | have an outstanding balance. |
| simple steps you can take to greatly reduce the risk of | | | | Nothing can be better: Try for a credit card that does |
| becoming a victim.Tips: | | | | not charge an annual fee. Many credit cards charge |
| Sign new cards immediately. When you receive your | | | | you a fee each year to use their cards. While this may |
| new or replacement card in the mail, sign it, in ink, right | | | | be offset by other benefits the card may offer, you |
| away. If it is a replacement card, destroy the old card | | | | can find cards that do not charge this annual fee. Why |
| by cutting it into many small pieces. | | | | pay for the privilege of using a credit card when you |
| Shred old credit card receipts. You can purchase an | | | | don’t have to? |
| inexpensive paper shredder at an office supply store. | | | | Explore the options: Today’s cards offer a wide |
| All old receipts with your credit card number and any | | | | range of excellent features, including frequent flier |
| unneeded documents with your social insurance | | | | points, programs that bank points toward a new car, |
| number or other sensitive personal information should | | | | and cards that support charitable organizations. Other |
| be shredded before disposal. This prevents the | | | | options worth having include car rental insurance |
| common practice of criminals going through the trash | | | | coverage, trip cancellation coverage, and extended |
| to find receipts and stealing your identity | | | | warranty coverage.Colin McDougall is the editor of |
| Never fax your credit card number. Your credit card | | | | personal finance websites offering credit cards, |
| number can lie for hours in the fax basket at the other | | | | student credit cardsand other personal & mortgage |
| end. Anyone passing by can record your number and | | | | loans. |