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Credit Card Control
Control the use of your credit card and learn how to control your credit rating. Many people shop offline, online, by phone or mail. A credit card makes it very convenient to purchase goods and services in a split second. When you use your credit card, keep track of your spending and minimize your credit card charges. Incidental and impulse purchases add up, and each one you make with a credit card is a separate loan. When the bill comes, you have to pay what you owe. Owing more than you can afford to repay can damage your credit rating. Keeping good records can prevent a lot of headaches, especially if there are inaccuracies on your monthly statement. If you notice a problem, promptly report it to the company that issued the card. Usually the instructions for disputing a charge are on your monthly statement. If you order by mail, by telephone or online, keep copies and printouts with details about the transaction. These details should include the company’s name, address and telephone number; the date of your order; a copy of the order form you sent to the company or a list of the stock codes of the items ordered; the order confirmation code; the ad or catalog from which you ordered (if applicable); any applicable warranties; and the return and refund policies. Finally, if you have a credit card, take the following precautions: Never let someone borrow your credit card, even if a friend or relative. Friends loose things too. Never sign a blank charge slip. Draw lines through blank spaces on charge slips above the total so the amount can’t be changed. Otherwise, you may find an unexpected charge. Never put personal information and account numbers on an outside envelope. Always be cautious about disclosing your account number on the telephone unless you know the person you’re dealing with represents a reputable company. Always carry only the cards you anticipate using to prevent the possible loss or theft of all your cards or identification. Always report lost or stolen ATM and credit cards to the card issuers as soon as possible. Follow up with a letter that includes your account number, when you noticed the card was missing, and when you first reported the loss. Some of this information has been provided by the FTC
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