Everything About Credit Cards

Secured credit cards are better than cash or checks in at least 5 ways:

• You can shop online, and buy gas when the stations are closed
• You can reserve a hotel room or an airline ticket over the phone
• You have recourse if goods are defective or never delivered
• If your credit card is lost or stolen, you’re protected
• Secured Credit Cards will help you build your credit rating

We all know that shopping on line can often save both time and money. Finding a specific product via a Google search is much more efficient than telephoning every store in your town, or driving from store to store. And often, the price including shipping is less than you’d pay in person.

And, while some on line stores do accept electronic checks, you usually have to wait until your check clears before your merchandise will be shipped.

If you do much traveling at night, you know how convenient it is to pull into a station that’s closed and use your credit card to fill up. You can’t do that with cash or a check.

Next, reservations: Unless you secure your spot with a credit card, you take the chance of not having a room or a seat when you need it.

Safety is another issue. Whether you buy on line, over the phone, or from a catalog, there’s always a chance that the company isn’t on the up-and-up. When you’ve paid for your purchase with a credit card, the credit card issuer will back you in your complaint – and credit the purchase back to you.

As for loss…  If your credit card is stolen your liability will never be more than $50 – and some cards offer zero liability. All you have to do is call and notify your credit card issuer.

If your cash is stolen – it is simply gone. And if your checkbook is stolen and the checks used, you’ll have to jump through hoops to prove that you didn’t write those checks.

Last but not least, a secured credit card will help you build or rebuild your credit scores.

Just as with any other card, your usage will be reported to the credit bureaus each month – slowly improving your credit scores with each month of responsible use.

Treat your secured credit card with respect, and you’ll be rewarded with higher credit scores. So…

• Never charge more than 30 – 50% of your available credit
• Always pay your bill on time

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