Owning one or several credit cards can turn out to be a nightmare. This is bound to happen if you are not careful about spending. Likewise, there are some mistakes that credit card owners have to be careful. Otherwise, it can lead to a huge debt problem.
If you are looking for free legal advice on your credit card problems call Consumer Credit Legal Service Western Australia clicking on the link. Or head over to http://cclswa.org.au/topics/credit-cards/
- Paying no attention to your credit card billing statement. Open the statement right away as soon as you receive it. If not, you miss the due date, important notices or possible changes in terms and conditions. The billing statement is also the source of information about problems with your account. Check the totals carefully to make sure that these are accurate.
- Failure to report a pilfered or lost card. If you do not report this to the company, there are chances that someone else may use the card and charge purchases to you. You are liable for all these. Report this incident right away to limit your responsibility to fraudulent charges.
- Charging purchases more than your balance. It is not advisable to use up the limit or worse, go beyond 30 percent. This can affect your credit score adversely. The key is to maintain your balance for a positive score and controllable payments.
- Cancel your account because of differences with the issuer. This can cost you points in credit score if you want to have very good credit. Leave your account open and this will not impair your ratings.
- Using too many credit cards. This can bring down your credit score. Denials will be more frequent since companies will be distrustful because of too many applications. Apply for a new card only if it is necessary.
- Failing to understand the terms provided for in the use of credit cards. Understand and review the policies every year. Knowing these will provide you more control over usage of the card.
If you are looking for free legal advice on your credit card problems call Consumer Credit Legal Service Western Australia clicking on the link. Or head over to http://cclswa.org.au/topics/credit-cards/