Using Credit Wisely
By: Austin Striblen
Responsibilities to Yourself
- As a credit user, you have a responsibility to yourself to use wisely and not get into debt beyond an amount you can comfortably repay.
- You are also responsible for checking out business before making credit purchases.
- You owe it to yourself to comparison shop.
- Comparison shop credit as well.
Responsibilities to Creditors
- When you open an account, you are entering into a relationship with a store, bank, or credit card company.
- It is your responsibility to contact the creditor immediately when you find a problem with the bill or discover that the merchandise is defective.
Creditors Responsibilities to You
- Assisting consumers in making wise purchases by honestly representing goods and services, including all rules and regulations
- Informing consumers about all rules and regulations, interest rates, credit policies, and fees.
- Cooperating with established credit reporting agencies, making credit records available to the consumers, and promptly fixing mistakes in records when they occur.
- Using reasonable methods of contracting customers who fail to meet their obligations and assisting them whenever possible with payment schedules and other means for solving credit problems.
Safeguarding your Cards
- Sign and activate your cards as soon as you receive them.
- Carry only the cards you need.
- Watch your card during transactions and get it back as soon as you can.
- Tear up old receipts no longer needed that contain account information.
- Destroy expired cards by cutting them up.
Protecting your Accounts Online
- Deal only with companies that you know and trust.
- When making an online transaction, always make sure the website is secure.
- Phishing is a scam that uses online pop-up messages or e-mail to deceive you into buying their product.