A simple credit card is more powerful than one can dream about any day. It’s a dangerous double-sharp edged financial tool. There’s a thin line between enabling you to have a superb financial record and nose-diving into debt.
However, each card has tones of secrets that you might not become aware of always. Are you ready to quench your curiosity thirst concerning these powerful financial plastic cards? Discover the well-kept secrets of credit cards that lenders will never let you know.
- Secure a better deal
Do you often look at the annual fee and think its too much? Are you tired of the high APR? How about the shorter grace period? All these can become a thing of the past and get a better deal. All you need to do is engage in smooth and tactical bidding with the credit card company.
You need to know that these charges often get regarded as fundamental costs of running a business so that it stays afloat. However, you can send in your request to have it either eliminated or reduced to a favorable charge.
- Acquire a credit limit review any time
Did you know that as a credit cardholder, you have the right to inquire for a credit limit review any time you desire? All you have to do is ensuring that your payment history is stellar.
You might get lucky as some lenders make the entire process much easier by providing you have everything automated. Thus, you get to know where you stand at any given time.
- Avoiding late charges
One of the simplest ways for you to remain in constant debt is by making late fee payments. As you strive to use your Credit cards to build credit, there are specific nitty-gritty details that you must adhere to always. Having the best credit card practices will inhibit your balances from going up.
Thus, you need to strive and have a better payment plan system to clear all student loans, mortgages, and personal automobile loans. Moreover, it won’t limit you from paying the primary balance.
- Getting a double penalty for a single late payment
Here’s another hidden secret that lenders prefer you don’t know. You might get hit with such a predicament when you indulge in single delinquency.
Thus, you must always stay vigilant once you receive the charges and know what you are paying for each time. You need to check the penalty rate at all times and become familiar with the fixed interest rate, which can crank up the APR. When it comes to using credit cards to build credit, you must learn about the skeletons in the closet. It will enable you to discover some secrets that might work for you. In the process, you can also uncover what’s not right for you. Thus, it’s best to double-check the fine print as well as regulations governing the credit card. It’s one of the unique and straightforward ways to deal with credit cards and not be duped with hidden secrets upon approval