Using Credit Wisely
Nirav Patel
Responsibilities To Yourself
- As a credit user, you have a responsibility to yourself to use credit wisely and not spending too much, which can lead to a big debt.
- Do comparison shopping to get a best price for equal quality.
- Make a conscious decision before you buy something without thinking.
- Remember to have a good credit reputation and fulfill your obligations and upholding.
Responsibiliites To Creditor
- Limit your spending amount that you can pay comfortably in terms of the credit agreement.
- Contact your creditor immediately when you find a problem with the bill or if the merchandise is defective.
Creditors' responsibilities to you
- Assist consumers in making wise purchases by representing the goods and services its advantages and disadvantages.
- Inform customers about all rules and regulations, interest rates, credit policies, and fees.
- Establish credit reporting agencies, making credit records available to the consumers.
- Using reasonable methods of contacting customers in 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.
- Tear up old lend your card to anyone or leave it lying around.
- Destroy expired cards by cutting them up.
- Watch your card during transactions and get it back as soon as you can.
Protecting your accounts online
- Deal only with companies online that you know and trust.
- Always look for browser's symbol that indicates a secure site.
- Before dealing with a company, make sure that you are comfortable with their policy.
Avoiding unnecessary credit costs
- Accept only the amounts of credit you need.
- Make more than the minimum payment.
- Pay cash for small purchases.
- Keep your credit accounts to a minimum.
- Take advantage of credit incentive program.
- Think about the finance charges, monthly payments, and other things. Understand the cost of credit.