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How do you use your credit cards? Do you consider yourself to be completely responsible or completely lost when it comes to credit usage? No matter how responsible you feel, there is always a bit more that you can learn, and this article will provide you with great credit card tips!

Never close out a credit card account without making sure that you know how it will affect you. In some circumstances, closing credit card accounts can negatively affect the credit report, which is something that should be avoided. Furthermore, work on keeping open the cards you have had the longest.

Retail credit card accounts should only be opened at stores that you will be shopping in quite frequently. When you apply for store charge card, an inquiry is noted on your credit bureau report whether you are approved or not. Too many inquiries on your credit can lower your credit rate.

To help ensure you do not over pay for a premium credit card, double check whether the card has an annual fee attached to it. The exclusive credit cards, like the platinum or black cards, are known to charge it’s customers an annual fee from $100 to $1,000 a year. If you don’t have to have a card that’s exclusive, avoid fees and keep that in mind.

Be aware of the rate of interest you are provided. This is especially true before signing up for a new card, so read the fine print or ask the right questions to determine the interest rate you would be paying with the card. If you are unaware of the number, you might pay a great deal more than you anticipated. If the interest rate is too high, you might find yourself carrying a bigger and bigger balance over each month.

A great way to keep your revolving credit card payments manageable is to shop around for the most advantageous rates. By seeking low interest offers for new cards or negotiating lower rates with your existing card providers, you have the ability to realize substantial savings, each and every year.

Take the time to play around with numbers. Before you go out and put a pair of fifty dollar shoes on your credit card, sit with a calculator and figure out the interest costs. It may make you second-think the idea of buying those shoes that you think you need.

Be smart with how you use your credit. Many people are in debt, due to taking on more credit than they can manage or else, they haven’t used their credit responsibly. Do not apply for any more cards unless you need to and do not charge any more than you can afford.

Did these tips help you? Do you feel more prepared to use your credit cards now? Hopefully, you feel more confident and comfortable, as well as, more able to avoid the common “credit traps” that exist. This article and others like it can provide you with a wealth of useful credit card knowledge.

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