Hello everyone. Today's blog is short and is geared for all of you who ever want a credit card, use a credit card, or even think of using a credit card.
Almost everyone is spending more than they should these days, but today's Boomers and grandparents are spending more as a whole demographic than ever before. The same goes for college students, parents, and single mothers. This could lead to some very large problems in that you may wind up with no retirement nest egg, have to be on the public dole, and basically not be able to live the life you want on your terms.
Credit card issuers go after just about everyone and they offer you many "Special Deals" that just don't pencil out in the long term. Here are just a few tips for selecting a credit card.
Look out for special offers. If you get a teaser rate don't believe that it will last any longer than 6 months or so. Read the small print, you'll find you might be singing up for a very high interest rate card without even knowing it.
Spend time shopping for the best deal. I like www.CardRate.com. Look for cards that have no annual fees and very low interest rates.
DO NOT purchase the insurance program these card issuers offer. Often this is just not worth anything in the long term and certainly not worth the expense.
I get questions every day and to sum up what people ask about most, here are a few safety tips for using your credit cards, no matter your age.
Leave Home Without it. That's right, don't take your credit cards with you unless you know you will use them. If they are in your wallet or purse you are more likely to spend more money, have your identity stolen, or worse.
Hide in Plain Site. Keep your credit card numbers and access codes secret. Do not show or share them with anyone you do not have to. Shred all receipts you do not need to keep for tax or other purposes. Never through your receipts in the trash. Dumpster divers are hoping you'll be dumb enough to simply throw them out. Don't do it.
Keep your PIN secret. Never, ever write this number down anywhere. It can be like handing the keys to Fort Knox to a criminal.
For more information on how to get and use a credit card you can go to the FTC (Federal Trade Commission) website. The FTC publishes consumer brochures and booklets about credit. It also can provide you with instructions for filing complaints against a lender. You can find these materials on the FTC Web site, or call (202) FTC-HELP. To contact the FTC by mail, write to the Federal Trade Commission, CRC-240, 600 Pennsylvania Avenue, NW, Washington, D.C. 20580. URL: http://www.ftc.gov
Be well, shop safe, enjoy life. I am yours in financial success,
Randall
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