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Make sure you read your entire credit card agreement. Not knowing the penalties and fees associated with your account could cost you thousands of dollars! While this may seem obvious, few of our clients have followed these steps when apply for credit. Proper credit card use starts with knowing some simple facts.

PROPER CARD CREDIT USE

Make sure to read everything your credit card company sends to you. By law a credit card issuer is required to give only 15 days notice if they change the terms of your account. A company can raise cash advance fees, interest rates and more with very little notice. Most users do not realize that these changes even occur. Don't throw out anything your credit card company sends you. Take the time to sit down and read everything. Spending five minutes reading could save you money and save from having to get credit card help.

Interest rates are the most common thing changed! Even if you have signed up for a low rate, make sure you know when the rate will be raised. Many times credit card companies advertise a low rate, but don't tell you that it will increase after six months. Before you send in your application, read the entire form and make sure the rate does not increase to a high, high rate. Credit card education is extremely important!

Make sure you know the fees associated with your credit card account. Many companies charge high late fees. even if the payment arrives one day late. Some credit card companies charge over-limit fees, inactivity fees, annual credit card use fees and penalties for paying off a balance.
For more information regarding your credit cards, creditscores, credit reports or debt options currently available to you, please contact Gateway Credit Connection or visit us online at
http://www.creditmonkey.com

Michael Goff is the Co-Founder of Gateway Credit Connection, helping empower consumers to take control of their personal and business finances. With offices in three states, Gateway Credit Connection has helped thousands of families put the past behind them legally.

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