Thursday, October 25, 2007

Be Aware of Bad Credit Card Practices

Some things you might want to look out for when using your credit card.

Firstly, you will need to monitor where you will be using your credit card. Specifically, purchasing goods or services outside of your own country can attract extra fees. These extra fees can be in a form of a currency conversion fee.

Secondly, credit card protection agents can be quite persuasive about you needing protection. The fees are sometimes horrendous to insure against identity theft etc.. However, most people forget that Visa and Mastercard have their own insurance cover to protect you from fraud.

Finally, be very aware of the interest amounts charged to your credit card account. Some financial institutions have fraudulently charged excess interest rates yet they state they are actually charging a lesser rate. It's a good thing to get your calculator out and do a random check every now and then. If any amount charged is more than you think it should be. Contact your bank immediately to rectify the problem.

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