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Avoiding Credit Card Penalties
By: Peter Kenny
It is a sad fact of life that credit card companies are very willing and fast to
slap a penalty charge on your account for every mistake, delay and slip up you
cause, immediately and without a second thought. These penalty charges can
amount to millions of dollars taken from consumers each month. They are a
necessary part of all credit card operations and are fair in the sense that it
means that customers who do everything correctly and on time are not penalised
for the extra work and expense that other customers cause, but what you will
want to do is make sure you are not one of the unlucky customers that is paying
for these extra expenses.
The best way to avoid these penalties is to look at the entire situation from
the point of view of the credit card company. Really, all they want from you is
to keep your card safe, to stay within your credit limit, and to make at least
your minimum payment, on time every month. If you manage to do these simple
tasks you will avoid ever incurring a penalty on your account.
The problem is that it is very easy to slip up on these things. It’s not easy at
all to keep track of your outstanding balance, especially as we use credit cards
for more and more things and companies begin placing holds and other such
transactions on customers accounts without them necessarily knowing or
understanding about them. Then there is the fact that it is very easy to forget
or become late on a payment. Every one has busy periods in their life and
sometimes we simply have other more important things on our minds than paying
our credit card bill on time. Some people are less organised than others and for
them it can be very difficult making sure all their credit cards are paid out in
full and on time.
If your card is lost or stolen without any fault on your part, and you call your
credit card company as soon as you find out, you will only be liable for a
maximum of $50 dollars. And if you manage to let the credit card company know
before any thing has been spend on your stolen card you will not be liable for
any thing. This is also the rule that applies for identity theft and fraud so
you can feel safe using your credit card online. Taking a few simple steps can
mean you are virtually never subjected to credit card penalties.
About the Author:
Peter Kenny is a writer for creditcards-gb For additional articles and an
extensive resource for everything about credit cards, please visit us at http://www.creditcards-gb.co.uk and http://www.creditcards2go4.com
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