What should you do if you can't pay your credit card bills?
Call your creditors and request a lower interest rate first, let them know you are having difficulty paying your bills. Ask if they can lower your minimum payment. If all else fails, go to a credit councelor (free in most cases) and get some help. You can also consider taking out a loan (or home equity loan) to pay it all off and consolidate your cards. Just be sure that once you get the loan and wipe out your credit card debt, that you cut up the cards or put them away so you can't spend and get yourself into debt again.
Depending on the credit card you might be able to pay by * a cash lodgement at your bank branch, or * by telebanking (I pay my credit card over the internet, by transferring money each month from my current account to pay the bill), or * you might be able to pay by direct debit. Many credit card companies allow online payment of bills. If your banker and credit card issuer are the same…
To avoid credit card identify theft a person should be vigilant when using the card for any suspicious behaviour around them. You should shred any bills or correspondence from the credit card company, inform your card supplier if a bill is delayed or missing and inform your card supplier the moment you recognise an unknown entry on your bill.
Absolutely. If a thief finds your credit card on the street, he/she could use it to buy anything they wantonline until it runs out of money. This will be a disaster for you when the bills keep on piling up for no reason. That's why you should disable and/or cut up your credit card if you're throwing it away into the garbage. You should do the same with checks, electric bills, stamps, etc.
No - Buying goods on a credit card is a 'temporary loan' from the card company to allow you to buy stuff without handing over cash at the time the transaction takes place. The store bills the card company, and they hand over the cash to the store. The card company then bills you for the transaction.
It lets banks, credit card companies, car dealerships, mortgage places etc Know how much credit you have out, and how good you are at paying your bills on time, and that is how they decide if you can get a loan or not, and how good of a rate you will get. If you don't pay your bills on time every month and have a lot of outstanding debt your number will be very low…
If I didn't pay my bills, they would call, raise my interest rate and in general make my life miserable. My brother in-law,who does not have a job, buys new cars and uses various credit cards, all without paying and seemingly nothing happens to him. I think you should pay cash when you can and only use a credit card when absolutely necessary.