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How to Avoid High Risk Cards

Here’s how to avoid high risk cards or turning your good deal card into a high risk one:

1. Check the fine print. Most offers have parameters and eligibility status requirements. The old saying that nothing’s for free is true. If the offer is too good to be true, check what could disqualify you as a potential candidate for rebates and rewards. You can get those rebates and rewards but you have to be a good customer. Some offers are cancelled the month you miss one check. Yup, one missed pay date and your balance goes up to a higher APR and you’re stuck with massive interest. Sometimes it can be two missed payments. It pays (a lot) to check this out before you write down your name on anything.

2. Know that companies can change your terms and conditions without prior notice. As a former customer service agent, I used to get lots of calls regarding this. A lot of people simply don’t read their terms and conditions. Usually, there’s print at the bottom that says subject to change without notice. To avoid this, READ every bit of mail that the credit card company sends you. This can range from offers, to policy changes; it may even inform you of turnovers.

3. Know the best card for your credit score. Applying for a card that you’re eligible for will save you a lot of time and trouble in the future.

4. Keep your balance low. Pay off as much as you can on the balance or the full balance every month so as to a) avoid interest charges, finance charges and fees and b) save more for you rebates! It won’t do you any good if your cash backs and rebates go towards paying your interest.

5. Check your fees. Credit card fees can vary depending on a) your balance b) your timeliness and c) your credit record. Find cards with no annual or monthly fees so that you don’t have to pay more to get the same services. Again, it’s all up to your terms and conditions.

6. Take advantage of customer service. Ask questions about the card before you sign up. If you have concerns, address them as soon as possible. A good credit card company will have good customer service. Take the agent name, if not the name, the ID number so that you have a reference when they give you information.

7. Know your rights. Know what rights you have as a consumer and know what benefits and rewards the card offers you. If you’re card as liability insurance, you have all the right to demand it if card fraud occurs. Take advantage of your benefits! This is one way that you can keep the card as low risk as possible.

8. One of the risks of credit cards is identity theft. NEVER give your credit card number out to anyone who isn’t authorized. Make secure transactions over the Internet and don’t throw out receipts with your card number. Cut up old cards and throw them separately. Identity theft will damage your credit score and can take months, if not years to fix.

Gas cards are basically credit cards. Being smart about your credit will save you money and reduce the risks that you take when using them.

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Sebastian Grenier Author of "How to Avoid High Risk Cards" Gas cards galore offers the best gas credit cards that you can apply for online!

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