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Posted By: C. Harrison<\/p>\n
DEPARTMENT OF CONSUMER AFFAIRS ISSUES 8 TIPS TO GET THE MOST OUT OF YOUR CREDIT CARD AND AVOID DEBT<\/p>\n
Follow The Tips Below to become a savvy credit card user:<\/p>\n
\u2022\u00a0\u00a0\u00a0\u00a0 Shop around<\/strong>\u22c5 There are many different cards\u00a0 with different offers, interest rates and benefits. Do as you would when shopping for any item-decide what you want, compare the options and select the card that best suits your needs.<\/p>\n \u2022\u00a0\u00a0 Read the fine print<\/strong>\u22c5 Make sure you take the time to read and understand all of the terms\u00a0and conditions that apply to your card, before you sign up. Be aware that many credit card companies will offer a list of exceptions or\u00a0attractive\u00a0introductory rates that expire after a few months.<\/p>\n \u2022\u00a0\u00a0 Spend only what you can afford<\/strong>\u22c5\u00a0Your credit card has a limit but that doesn’t mean you should reach it. You will owe what you have spent within a few weeks of your purchases so know your budget and always pay your card on time. Failure to pay on time will damage your credit.<\/p>\n \u2022\u00a0\u00a0 Pay off your balance in full each month<\/strong>\u22c5 Each month the credit card company will allow you to make a minimum\u00a0payment that is less then the total you owe. It may seem easy to do this but you will be charged interest. Adding that interest to what you already owe can add up. Avoid having to pay more and pay your balance in full.<\/p>\n \u2022\u00a0\u00a0 Know when to put the card away<\/strong>\u22c5 If you have a balance on your card and you can’t pay it off in full, stop using the card and keep making payments until you have paid off the balance. Always pay more than the minimum payment if you can, otherwise the interest might increase your balance even if you aren’t making new purchase.<\/p>\n \u2022\u00a0\u00a0 Limit the number of credit cards in your wallet<\/strong>\u22c5 Keeping track of multiple credit card bills can be tough. Avoid any confusion and reduce your chances of having your identity stolen by limiting yourself to as few credit cards\u00a0as possible. For most people one credit card is\u00a0more than enough.<\/p>\n \u2022\u00a0\u00a0\u00a0Opt-out of receiving credit card offers<\/strong>\u22c5 Under the Fair Credit Reporting Act, consumer credit reporting companies are allowed to include your name onm lists that are used by creditors to make credit offers. In an effort to limit the number of cards and offers you receive, you can opt-out of getting them at optoutprescreen.com\u00a0.<\/strong><\/span><\/p>\n \u2022\u00a0\u00a0 Get financial counseling if you need help<\/strong>\u22c5 There is a way out of credit card debt. New Yorkers can get free, one-on-one financial counseling at one of the City’s nearly 30 Financial Empowerment Centers where you can learn how to reduce debt, get help negotiating with your creditors, understand your credit report, create a budget, improve your credit score, open a bank account, and start saving for emergences and the future. Call 311 to schedule an appointment near you or visit nyc.gov\/consumers<\/strong> <\/span>for more information.<\/p>\n \u2022\u00a0\u00a0 For more consumer tips, visit nyc.gov\/consumers and join the conversation on twitter by following @NYCDCA<\/span> and using the hashtag<\/span> # ConsumerMatters<\/span>.<\/p>\n","protected":false},"excerpt":{"rendered":" Posted By: C. Harrison DEPARTMENT OF CONSUMER AFFAIRS ISSUES 8 TIPS TO GET THE MOST OUT OF YOUR CREDIT CARD AND AVOID DEBT Follow The Tips Below to become a savvy credit card user: \u2022\u00a0\u00a0\u00a0\u00a0 Shop around\u22c5 There are many different cards\u00a0 with different offers, interest rates and benefits. Do as you would when … Continue reading NYC CONSUMER AFFAIRS FOR IMMEDIATE RELEASE<\/span>