On the verge of a cashless society

As we become the cashless society here are some tips to keep in mind for your plastic…

·        Your card issue can change your rates, including the annual percentage rate any time they want. You’ll want to check your monthly statement when you get it to see if anything has changed.

·        If you get caught behind on other payments, the credit card company can raise your interest rate, even though you have been on time with them. They call it “universal default” – you call it highway robbery.

·        Keep in touch with your credit score to catch any errors that can jeopardize your credit rates.

·        If you are even an hour late, the card issuer will most likely charge you a late fee, say thirty dollars. Pay a few days early to avoid this fee.

·        Interest rates can go through the roof and there is no cap in many states. Your best bet is to pay it all and on time.