How to Manage Credit Card Debt

Whether you shop online, by telephone or by mail, a credit card can make buying many things much easier; but when you use a credit card, it’s important to keep track of your spending. Incidental and impulse purchases add up, and each one you make with a credit card is a separate loan. When the bill comes, you have to pay what you owe on the credit card. Owing more than you can afford to repay can damage your credit rating.

Keeping good records of your credit card purchases can prevent a lot of headaches, especially if there are inaccuracies on your monthly statement. If you notice a problem, promptly report it to the credit card company that issued the credit card. Usually the instructions for disputing a charge are on your monthly credit card statement. If you order by mail, by telephone or online, keep copies and printouts with details about the transaction.

These details should include the company’s name, address and telephone number; the date of your order; a copy of the order form you sent to the company or a list of the stock codes of the items ordered; the order confirmation code; the ad or catalog from which you ordered (if applicable); any applicable warranties; and the return and refund policies.

Finally, if you have a credit card, take the following precautions:

• Never lend your credit card to anyone.
  
• Never sign a blank credit card charge slip. Draw lines through blank spaces on credit card charge slips above the total so the amount can’t be changed.
  
• Never put your credit card account number on the outside of an envelope or on a postcard.
  
• Always be cautious about disclosing your credit card account number on the telephone unless you know the person you’re dealing with represents a reputable company.
  
• Always carry only the credit cards you anticipate using to prevent the possible loss or theft of all your credit cards or identification.
  
• Always report lost or stolen ATM and credit cards to the credit card issuers as soon as possible. Follow up with a letter that includes your credit card account number, when you noticed the credit card was missing, and when you first reported the loss.

• Getting Credit or Insurance? Your Credit Score Effects What You Pay!
• Don't Be an On-line Victim of Identity Theft:
  How to Guard Against Internet Thieves and Electronic Scams
• ID Theft: Strategies and Help for Fighting Back
• Consumer Financial Rights
• Credit and Divorce
• Building a Better Credit Report
• Need Credit or Insurance? Your Credit Score Helps Determine What You'll Pay
• How to Manage Credit Card Debt
• What's Credit?
• Avoid Credit Card Fraud!
• List of Credit Reports, Credit Scores and Credit Monitoring
• About Credit Reports
• What to Do if Your Credit, ATM or Debit Card is Stolen
• Credit and Debit Card Blocking
• Do You Need Credit Insurance?
• Credit Report FAQ
• Credit Score FAQ
• Credit Counseling
• Tips for When You Get Your Credit Score
• What is Credit Score?
• How to Boost Your Credit Score
• How To Get Free Annual Credit Report
• How to Correct Inaccuracies in Your Credit Report
• Tips to Prevent Identity Theft
• What is FICO Score?
• Why Do You Need Credit Monitoring?
• General Credit Tips
• 5 Tips to Improve Credit Score
• Your Rights and Credit Reporting
• Fair Credit Reporting Act
• Equal Credit Opportunity Act

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