Credit Card Services. Tips
Read these 6 Credit Card Services. Tips tips to make your life smarter, better, faster and wiser. Each tip is approved by our Editors and created by expert writers so great we call them Gurus. LifeTips is the place to go when you need to know about Credit-Cards tips and hundreds of other topics.
Credit Card Rewards with a Debit Card
As much as people use their debit cards for purchases, why shouldn't banks offer credit card rewards to their customers. The convenience of using a debit card is that the consumer does not need to carry cash on them all the time. The debit card deducts the purchase amount from the consumer's account at the time of purchase. Many banks are now offering airlines miles rewards and leisure rewards to customers who use their debit cards. The rewards add up similarly to the way they do with a credit card by offering a specific reward amount for a specific amount of money spent. The rewards do not apply to ATM withdrawals or cash back from merchants. These credit card services are a way for the banks to compete for customers and lure others away from their current banks that do not offer rewards programs for using a debit card. Other rewards by banks include cash back credit cards, Harley Davidson point programs, gift cards, and more. To find out what the consumer's bank offers they should contact them directly to see what options they have. If their bank does not offer any such rewards the consumer may decide to switch to a bank that does.
24-hour account access by phone
The convenience of online credit card account access is great, but sometimes you need to talk to a real person. For these times, take advantage of your credit card's 24-hour phone access. This credit card service allows you to talk to a credit card service representative by calling the toll free number printed on your credit card. This person will be specially trained to answer any of your questions.
If you're one of the many people who still feel uncomfortable about managing your finances online, a 24-hour phone number for your credit card can give you the benefits of online account management without the security risk. 24-hour credit card service hotlines will often lead you through an automated menu that will help you pay your bill, check your balance, transfer funds and more.
Change your credit card payment due date
If you're tired of having all your bills due at the same time each month, call your credit card company to see if they can change your payment due dates. This credit card service can be handy if you are paid twice each month. You can use the income from your first paycheck to pay for housing costs and then use the money from your second paycheck to pay off your credit card bills. If your credit card company agrees to change your payment due date, make sure you note when the change will take effect. If they are unwilling to change the due date, find out how long the grace period is. Use this credit card service to coordinate your payments and streamline your bill paying.
Treat yourself with a cash back credit card
Use your cash back credit card rewards to treat yourself to something special. Many credit cards allow you to earn cash back with every purchase. Some even let you earn extra cash back with specific services that are partnered with the card. The cash back award can add up quickly if you use your card often or for larger purchases. Reward yourself for responsible credit habits with a splurge for yourself.
The Fair Credit Billing Act
If you find a charge on your credit card bill for an item or service that you didn't purchase, let your credit card company know that you want to dispute the charge. There is a credit card service that will help you with your dispute.
The Fair Credit Billing Act allows you to dispute billing errors related to unauthorized charges, charges for items that weren't delivered, math errors, failure to acknowledge returns and failure to send a bill to your address. If any of these errors apply to an item on your credit card statement, write to your credit card company within 60 days of the bill. Keep a copy of the letter and send it certified mail so you have a record of when the credit card company received it.
You will not be required to pay for the item or any interest that might have applied to it while it is being disputed. This will not affect your credit score.
Making the minimum monthly payments
Pay much more than the minimum monthly payment on your credit card to avoid excessive finance charges. This credit card service should only be taken advantage of when there is no way you can pay your bill in full. Most minimum payments required by credit card companies are such a small fraction of the total balance that they don't make much of a dent in the overall debt. By only making the minimum payment, you can end up accruing more interest on your purchase than the original purchase was worth. Ideally, you'll pay you're credit card balance in full each month. If you can't pay all of it, pay as much as you can. Even overpaying the minimum by a little bit each month can have a huge impact on the amount of money you'll pay in the long run.
| Guru Spotlight |
| Patricia Walters-Fischer |
