Paperwork is necessary, not fun. Here's a painless way to run through those credit card statements and check for errors or sudden rate changes.
1. Match your receipts with the purchases and new charges listed on the bill to be sure they're yours. Discrepancies could mean that someone has stolen your card number.
2. Check the payments and credits. Was your previous payment credited to your account, plus any items that you may have returned?
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
3. Review your APR (often when credit card companies raise a rate, the customer is not informed.)
The APR (annual percentage rate) and finance charges (quoted in dollars) tell you how much you're paying if you carry a balance. The APR is usually higher for cash advances than for purchases. Make sure you know how much you're paying for each.
Finance charges may be calculated based on several methods: the adjusted balance (which subtracts any payments you have made and is most advantageous to borrowers), the average daily balance (all balances are added up and divided by the number of days in the billing cycle) or the previous balance, and may or may not include new purchases.
4. See how much available credit you have. What percentage of your total credit line are you using? Aim for no more than 50% and as little as 25%, if possible -- to keep your credit score in check.
JUMP TO:
Finance
Credit
Retirement
Investing
-
Roth IRA Contribution Limits for 2024 and 2025Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How to Figure Out How Much Life Insurance You Needinsurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life insurance needs.
-
Amazon Big Deal Days Is Coming! We’ve Got All the DetailsAmazon Prime To kick off the holiday season with a bang, Amazon Big Deal Days runs Tuesday, October 8 and Wednesday, October 9.
-
How to Shop for Life Insurance in 3 Easy Stepsinsurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
-
Five Ways to Shop for a Low Mortgage RateBecoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.
-
Retirees, It's Not Too Late to Buy Life Insurancelife insurance Improvements in underwriting have made it easier to qualify for life insurance, which can be a useful estate-planning tool.
