Part 2 and Part 3 tackled a lot of info and we hope you were able to digest it all and start using it to get your credit card affairs in order.Â Part 3 contains more valuable Tips and info so if youâ€™re ready weâ€™ll get right into it!
OK, weâ€™ll be the first to admit that the Federal Government isnâ€™t on ourâ€˜niceâ€™ list but, when it comes to credit cards, they do offer some excellent protection that you need to be aware of so that your credit card companies donâ€™t take advantage of you if you have problems.
First thereâ€™s the CARD Act, or Credit Accountability, Responsibility and Disclosure Act. This has eliminated many of the common practices that credit card companies used in the past (and that frankly some are still using) such as applying your payment to a lower interest rate balance, retroactive rate increases and double-cycle billing. If your credit card company is still using these tactics you can use the CARD Act to help you.Â In fact if you mention it to them youâ€™ll see them most likely change their tune quite quickly.
Next is the Fair Credit Billing Act that gives you, the creditor, certain rights if and when you have a problem with your credit card issuer.Â One of these is the fact that, if your card is stolen and used fraudulently, you are only liable for $50.00 in unauthorized charges. That should take a bit of the fear of losing your cards off of your little head.
It would seem that Social Media wouldnâ€™t have very much to do with your credit cards but, in fact, many credit card companies have set up FaceBook, Twitter and other social media sites with fan-pages that increase perks and give special offers to their customers for â€˜likingâ€™ them. You can also go online to see promotions, address problems and so forth. Â Next time youâ€™re surfing the net make sure to hit your FaceBook or Twitter site (and others) toâ€˜friendâ€™ or â€˜followâ€™ your CC company to get these added benefits.
Monitoring your credit cards is vital to keeping your credit score, and your financial well-being, safe from credit â€˜predatorsâ€™ that are trying to hack your account and steal your identity.Â Setting up mobile alerts is a great idea as well as avoiding public computers to make purchases, steering clear of unfamiliar vendors online and never giving out credit info online unless youâ€™re 100% certain that itâ€™s your credit company that youâ€™re contacting. Reporting fraudulent activity ASAP is also vital for your credit health.
And there you have it.Â A metric ton of great tips for taking care of your credit cards in the New Year. We hope you enjoyed this 3 Part series and we invite you to come back and see us in 2013 for more great info, tips and advice about your credit.Â Happy New Year and the best to all for a prosperous 2013.