Getting A Credit Card Is A Big Responsibility

Written by Connie Gutchrif

Owning a credit card can be quite an advantage. Whether making online purchases, booking an air ticket or a hotel room onrepparttar phone or simply being in need of some emergency cash, having a credit card can be a big help. However, getting a credit card is also a huge responsibility and if you don't keep an eye on your spending habits, credit cards can create some serious problems. Here is an excellent list of tips on proper credit card use and if you follow these, you will likely stay out of trouble and your credit card will be a blessing instead of a curse:

1. When you make a purchase withrepparttar 139070 credit card, it is akin to taking a loan from your bank. What you have borrowed has to be returned - so do not borrow beyond your capacity to pay it back.

2. Always be aware of your outstanding credit card balances. This will help you determine whether you can make additional purchases. Even small purchases can really add up to big balances and substantial interest charges.

3.Any credit card receipts should be kept until you can compare them to your monthly statement. If you find any purchases you did not make, or higher charges than those onrepparttar 139071 receipt, contact your credit card company immediately.

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

Written by James Dimmitt

Ah,repparttar “good old days”. If you are a baby boomer, like me, then you probably remember how important it was to rush torepparttar 138914 bank on payday. You had to get there beforerepparttar 138915 teller lanes closed so that you could have your “cash allowance” forrepparttar 138916 week. Otherwise, if you needed cash you had to write a check, then go torepparttar 138917 bank, and “cash”repparttar 138918 check for real cash.

Fortunatelyrepparttar 138919 days ofrepparttar 138920 mad rush to get cash fromrepparttar 138921 bank are long gone. We now enjoyrepparttar 138922 convenience of using a nearby automatic teller machine (ATM) or you can even get “cash back” at your local grocery, hardware or convenience store.

The card you use atrepparttar 138923 ATM is known as a debit card. When debit cards first appeared it was easy to tell them apart from credit cards. Debit cards didn’t have a credit card company logo on them; instead, they usually just had your bank name, your account number and your name.

Today debit cards look exactly like credit cards even carryingrepparttar 138924 same logos. Both types of cards can be swiped atrepparttar 138925 checkout counter , used to make purchases onrepparttar 138926 internet, or to pay forrepparttar 138927 fill-up atrepparttar 138928 gas pump.

When you use your debit card to make a purchase, it’s just like using cash. The account that is attached to your debit card, in most cases your checking account, is automatically debited when you use your debit card. The cost of your purchase is deducted fromrepparttar 138929 funds you have in that account.

Onrepparttar 138930 other hand, when you use your credit card to make a purchase you are using someone’s else’s money, specificallyrepparttar 138931 issuer ofrepparttar 138932 credit card, usually a banking institution.

In effect, you agree to pay them backrepparttar 138933 money you borrowed to make your purchase. In addition you will also pay interest onrepparttar 138934 money “loaned” to you atrepparttar 138935 rate which you agreed to when you applied for their credit card. This is known asrepparttar 138936 annual percentage rate (APR).

Whilerepparttar 138937 two cards might act and look alike,repparttar 138938 levels of consumer protection that each type of card provides can be different.

Under federal law, if someone steals your credit card you're only responsible to payrepparttar 138939 first $50 of unauthorized charges. However, if you notifyrepparttar 138940 credit card issuer before a thief is able to make any charges you may be free from all liability. Ifrepparttar 138941 credit card is not physically present when an unauthorized or fraudulent purchase is made, such as overrepparttar 138942 internet, you’re also free from liability for those charges.

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