Getting A Credit Card Is A Big Responsibility

Written by Connie Gutchrif

Continued from page 1

4. Never give out your credit card to anyone! This includes people in your family and any of your friends. It is not that you cannot trust these individuals, but you cannot track purchases you are not even making.

5. Never charge more than you can repay. When you do, you can hurt your future chances of getting any kind of credit, including car loans, home mortgages and other forms of loans.

6. Pay your credit card bills on time or even before they are due. Doing so will not only help improve your credit scores, but also help avoid additional costs associated with late payment charges and accrued interest.

7.Try to pay all your credit card bills in full each and every month. Have payments of a certain amount in your budget and try not to purchase more than that amount.

8. Use your credit cards for new purchases only. Too many people use one credit card to pay another credit card bill and that always leads to more spending and higher balances.

Connie Gutchrif is the President of FN Credit, LLC - An excellent resource for information on credit. To learn more, be sure to visit:

Debit Card Vs. Credit Card, What Are The Differences?

Written by James Dimmitt

Continued from page 1

MasterCard and Visa offer zero-liability protection where you won’t pay any charges if someone uses your credit card to make an unauthorized purchase.

The protection offered to debit card fraud is similar but with a few exceptions. For example, your liability under federal law is limited to $50,repparttar same as for a credit card, but only if you notifyrepparttar 138914 issuer within two business days of discoveringrepparttar 138915 card's loss or theft. Your liability for debit card fraud can jump up to $500 if you don’t reportrepparttar 138916 loss or theft within two business days.

And if you arerepparttar 138917 type of person that gives a passing glance to your monthly bank statement, you could be totally liable for any fraudulent debit card charges if you wait 60 days or more fromrepparttar 138918 time your statement is mailed.

Visa and MasterCard zero-liability protection applies to your debit card but only for transactions that do not involverepparttar 138919 use of your PIN (personal identification number).

Additional protection against fraudulent use of your credit or debit cards may be available through your homeowner’s or renter’s insurance. Check your policy or with your agent for more information about your coverage.

Also be aware that you should contact your card issuer by certified letter, return receipt requested, after you’ve contacted them by phone to protect your consumer rights.

As for which card to use for what type of purchase, most experts agree that you should use your debit card forrepparttar 138920 same type of purchases you’d make as if you were using cash. Therefore, it makes more sense to use your debit card than your credit card atrepparttar 138921 grocery store or gas station (provided you have sufficient funds to cover these purchases of course).

Avoid using your debit card for any online purchase or for something which is expensive. Why ? You’ll find it much easier to dispute a charge when you use your credit card. If your gold-plated, limited edition, hip-swinging Elvis wall clock arrives broken, your credit card company will removerepparttar 138922 charge untilrepparttar 138923 problem is resolved.

With your debit card you are stuck dealing withrepparttar 138924 merchant directly to resolve any problems with a purchase, even if your banking institution could really use a gold-plated, limited edition, hip-swinging Elvis wall clock of their very own.

© 2005, Author: James H. Dimmitt James is editor of “To Your Credit” a FREE weekly newsletter focusing on managing your personal finances and credit. Subscribe and get a FREE copy of your credit report when you visit:

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