US Debt Resource

There are credit card tips, and then there are credit card secrets. These latter are little known tricks that credit card companies play on you, as well as tricks you can use to get rid of charges and pay off your debt earlier. These are some of the best credit card tips, tricks and systems.

1. It's easy to get rid of yearly charges. If you have got good credit, just call and ask for charge to be removed. This worked on 3 out of 4 cards I called on, and I just dumped the other. Naturally the threat to do the same with the others is what got the charges dropped.

2. Read the fine print, and pay promptly. Remember that under “universal default” rules, if you're late on one card, your rate can be increased on other cards too. They're keen to get you with this one.

3. Watch for changing due dates. This is a trick employed by some credit card corporations to get you to pay late, so that they can collect the late fees. They will also be ready to raise your rate, and the rate on other cards you'll have. Do not assume that your payment date due will always be the same.

4. Use promotional checks with care. Transferring balances to 0 interest promotions can be a good idea, but keep an eye out for those that charge “balance transfer fees.” Transferring a balance that you were paying off soon anyhow will just cost you more if there is a 3% transferring fee.

5. Try credit unions for cards. Their cards sometimes have lower rates. My credit union Visa rate hasn't been over 10% in years, and I have 0 liability for unauthorized charges.

6. Ask to have the late fee surrendered. If you've never been late before, some credit card firms will surrender a late charge – but just if you ask. Why don't you try it? All that it takes is a telephone call.

7. Pay in full every month. Credit cards are for convenience, not for hiding the true value of things. Don’t pay interest – just pay the amount due every month.

8. Do not buy the credit card insurance. This often stops your payments when you're injured or unemployed. It is one of the most well priced insurances out there, and does not get rid of the debt, but just delays it.

9. Avoid credit card security insurance. It pays for unauthorized charges when your card is stolen, but you are only liable for the first $50 if you report the burglary in any case, and many cards already have 0 liability.

10. Pay high-interest cards first to reduce credit card debt. If you have $200 monthly to apply to your credit card debt, pay only the minimums only on all cards but the card with the highest interest rate. Put all the rest of the cash towards that one. Once that one is paid off, work on the subsequent highest. This is the fastest method to get rid of your credit card debt, and the most important of these credit card tips.

Learn the steps I used to improve my credit.

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