Silver
10 tips for managing
Credit Cards
http://www.silvermoneyservices.com/
Silver
1. Know Your Credit
• With your credit score, you get an accurate picture reflecting the risk of doing
business wit...
Silver
2. Get Better Protection
• Buying online using a debit card from major vendors such as Amazon shouldn't
present any...
Silver
3. Book your travels on your credit card
• With travel protection, you have a safety net if your trip gets canceled...
Silver
4. Get credit cards from different banks
• There's a good reason people don't put their proverbial eggs in one bask...
Silver
5. Annual fee can be worth it
• Some annual fee credit cards are worth it; others are not. Often, the value of
thes...
Silver
6. Pay your bills on time
• You won't pay unnecessary interest charges (up to 25%)
• Timely payments will help boos...
Silver
7. Negotiate, Negotiate, Negotiate!!!
• Always ask nicely! That’s principle #1
• Call your credit card issuer to se...
Silver
8. Always consider all your options
• It’s always time to shop around for better options
• You should apply for cre...
Silver
9. Treat your card like cash
• Don't use your credit cards to spend more than you can afford. Don't swipe any
plast...
Silver
10. Find the best credit card for you
• There are so many reputable credit card issuers and so many options to choo...
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10 tips for managing credit cards

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Like any powerful tool, credit cards can be useful or harmful,
depending on how they are used.
Here's 10 tips for managing credit cards.

Published in: Economy & Finance
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10 tips for managing credit cards

  1. 1. Silver 10 tips for managing Credit Cards http://www.silvermoneyservices.com/
  2. 2. Silver 1. Know Your Credit • With your credit score, you get an accurate picture reflecting the risk of doing business with you. It will determine what card you can get and your credit limit • Pull your credit report once a year (it’s FREE) so that you can understand how to improve your credit score • Factors of your credit score:  Amount of balances owed: 35% (below 30% is better)  Payment history: 35% (make sure you pay on time)  Length of credit history: 15% (the longer the better)  Credit mix: 10% (credit cards, auto loan,…)  New credit: 10% (open 2 credit cards at once to avoid 2 hard inquiries)
  3. 3. Silver 2. Get Better Protection • Buying online using a debit card from major vendors such as Amazon shouldn't present any problems • If you're buying from a smaller or less-established company, it’s better to use a credit card, since you just never know what those companies are doing with your credit card data • It will be a lot more difficult to get your money back with a debit card as the money gets debited from your banking account right away
  4. 4. Silver 3. Book your travels on your credit card • With travel protection, you have a safety net if your trip gets canceled to due to illness or weather. It’s easy to get refunded • With some credit cards, you can also get bonus points when you book a flight ticket or a hotel
  5. 5. Silver 4. Get credit cards from different banks • There's a good reason people don't put their proverbial eggs in one basket. If it dropped, you'd be eggless • The same concept comes into play when considering which credit cards to open. You will have access to more perks and it’s easy to manage • You just need to set up AutoPay and link your checking account to make payments every month
  6. 6. Silver 5. Annual fee can be worth it • Some annual fee credit cards are worth it; others are not. Often, the value of these products hinges on your lifestyle and your spending habits • Some credit cards (Amex Starwood for example) will give you bonuses to compensate for the annual fee • It might also be time to get another credit card from same bank
  7. 7. Silver 6. Pay your bills on time • You won't pay unnecessary interest charges (up to 25%) • Timely payments will help boost your credit score and avoid late fees • Set up AutoPay. That’s the easiest way to be on time
  8. 8. Silver 7. Negotiate, Negotiate, Negotiate!!! • Always ask nicely! That’s principle #1 • Call your credit card issuer to see if they will waive the fee or give you a retention bonus. If not, ask to talk to their supervisor • You can also ask to have your interest rate lowered
  9. 9. Silver 8. Always consider all your options • It’s always time to shop around for better options • You should apply for credit cards from different banks (American Express, Chase, Barclays and Bank of America for example) so that you can take advantage of bonuses from different institutions. • For example, purchase protection is better at American Express so it’s a good thing to have at least one Amex card for purchases where you want protection
  10. 10. Silver 9. Treat your card like cash • Don't use your credit cards to spend more than you can afford. Don't swipe any plastic unless you know you already have the funds in your account to afford your purchases • This mindset may help prevent costly impulse buys
  11. 11. Silver 10. Find the best credit card for you • There are so many reputable credit card issuers and so many options to choose that it could be very difficult to choose which credit card is the best. More than 500+ credit cards are available on the market • Silver can help you to figure out which credit card best fits your lifestyle • Compare hundreds of credit cards and get the best deal now! http://www.silvermoneyservices.com/

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