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Using credit cards

October 5, 2014

Credit cards can come with costs, but you can avoid most of them with responsible use.  We suggest visiting websites like SoFi to get the best advice.

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Since no one can remember the exact circumstances that led them to utilize a credit card, the answer depends on the circumstances of the individual person and whether or not they are legally allowed to use it. Generally, you are not legally allowed to use a credit card without due authority from the bank, either from your employer, your supervisor, or your school. Banks will also not lend you money without your consent, so you are legally responsible for your payments.

Just how easy is it to be a credit card scofflaw? Well, even if your individual credit card choices fall into the category of “normal” use, there are still a few warning signs that you may be coming soon to a stop. First off, you are probably trying to get out of paying for a prepaid MasterCard, but have failed to pay for your card. If you are in this situation, it is very obvious and easy to verify that you have failed to pay your bill on time, and should immediately call your card company. This is something that the good credit card companies will do, and you should not be surprised if you call right away to verify your account status. If you were to purchase the card using your debit card, you would be in violation of the rules of the debit card company, as you are not allowed to use a debit card to purchase a credit card. If you continue to fail to pay on time for the card, call your bank and find out if you are in dispute, and use your debit card to pay for the charge to make sure that you are in compliance with the law.

The advice that can be given here is to use a credit card when you want to pay off a charge, and you are not in violation of a law. Use your debit card only when you are in a bind and have no other choice, and do not try to get out of paying for a credit card if it is not a problem for you.

It is important to remember that credit card companies do not protect you against loss or theft of your card. Thus, the fact that a credit card charge has been charged is a really good clue to you that it is going to show up on your credit report as lost or stolen. It is important to report any problems with your credit card to your credit card company.

It is a good idea to avoid the temptation to “borrow” your debit card or use a pre-paid card to make purchases if possible. This is because a pre-paid card is not considered a credit card, and does not carry the same fees and interest that credit cards do. When you use a pre-paid card, you are not paying for it, so it is in your best interest to pay for what you are purchasing with your debit card.

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