Below are several pointers you should keep in mind, especially when charging your Valentine’s Day purchases and expenses on your prepaid, secured or unsecured credit card:
Check the available balance on your card account, before using it cover the bills and costs you will incur on V-Day. This is very important for you not to get in an embarrassing situation of having your credit card transactions turned down by the cashiers of your favorite shops or stores.
Moreover, this tip will help you avoid making substantial payments on pesky fees and fines, such as declined transaction penalties and overdraft charges. And, most importantly, such habit will help you maintain your excellent credit history – an important factor that will surely influence your chances of qualifying for affordable credit deals, after Valentine’s Day.
Be very careful where you use your credit card and disclose your account information. That’s because fraudsters and scam artists work double time during special holidays to rip off as many consumers as they can. In fact, you should expect that shopping centers and even websites will soon be under attack not just by petty thieves but even by hackers and the malicious software they use to spy on the online activities of credit cardholders, like you.
Hence, you should be very picky where you use and share your prepaid, secured or unsecured credit card information. Before visiting a shop, take the time to consider the level of security it offers to its patrons. And when shopping for items online, make it a habit to check out the privacy and safety settings of the webpage or online form you’re asked to fill out with your personal, financial and contact information. By doing so, you can have the assurance that your sensitive details won’t fall into the hands of unscrupulous individuals and organizations.
Stick to the terms and conditions of your credit card program. What does this mean? Well, it means you should do your best to abide by the stipulations of your line of credit. For instance, see to it that you don’t spend beyond the limit or cap imposed on your transactions. You should also remember to use your prepaid, secured and unsecured credit card ONLY in commercial establishments that are affiliated with your card issuer. In so doing, you won’t have to worry about paying steep penalties to your card issuer.
Lastly, use the cash advance facility of your credit card ONLY IF IT IS ABSOLUTELY NECESSARY. That way, you can avoid incurring huge finance charges, which could cause your credit card debt to balloon out and soon get way out of hand.
Make it a point to settle your credit card charges a day or two after V-Day. After all, this can help ensure that you won’t incur huge interest fees, as well as late payment penalties – extra charges that could eat up a significant percentage of your personal or household budget.
Not only that. Submitting on-time and complete payments of your charges can be instrumental for you to build, and even maintain, a solid credit profile.
About the Author
Emma Lee is a financial consultant and a freelance writer. She has more than 15 years of experience in helping consumers manage their prepaid, secured and unsecured credit cards in the best way possible. She regularly contributes articles to Secured Credit Card Site to provide readers the latest information about various card programs, as well as the latest trends in financial management.