Credit card debt story: Common credit card Pitfalls [Part 3]

Continue from part 2

The new map "BAIT AND SWITCH"
May you have signed a new card with low interest rates, yet the map is actually in the letter from the credit card company is proving to be a much higher rate. Believe it or not, credit card companies can legally do so. The reason is that in the fine print, these offers often state that the low rate is only for people who "enjoy". Always check the effective interest rate on your card, after getting in the mail.

Misplaced TRUST
It's sad but true. The world is filled with people hoping for a little male people unsuspecting. The following list contains some basic precautions you can take to protect yourself against unwanted intruders:

• If you receive e-mails or phone calls from a credit card company, do not answer or give any information. This could very well be a hoax. Call your credit card company using the phone number on your card to validate that a genuine e-mail or phone. The credit card company will not be offended by your done.

• Credit card companies often try to sell you a bunch of add-on services such as credit card disability insurance and anti-theft monitoring account. You do not need any of these add-ons.

• Shred (or tear in Teeny, tiny pieces) all our credit card unsolicited or "control" you receive by mail. Do not just throw them intact, because thieves can through your fish waste and try to register to use the cards or checks under your name.

• If your card is lost or stolen, report it immediately. You are solely responsible for $ 50 if you report no card within twenty-four hours of discovery.

If we have done our job in this chapter, you, not the credit card companies, will have power over your credit cards.

Above all, you can avoid becoming a part of fear but real statistics when it comes to credit cards. Here are just two:

• The average American has more than fifteen plastic cards (including debit, credit, store cards and gas), according www.cardweb.com
• Approximately 60 percent of Americans do not pay their credit cards in full each month. Among households with at least one credit card, the balance is on average more than $ 9000, according to figures from the Federal Reserve.
Remember, charging things on your credit card you can not pay in full at the end of the month will cost you big time. Only pay your minimum monthly payment cans easily double the cost of everything you buy.