"I think money was stolen from my card" or "I might have blocked my card in the ATM" - these are frequent problems that bank customer-support officers usually hear from agitated clients. Incorrect use of credit cards or wrong interpretations of their functions are frequent even after tens of years of credit-card extensive use. Actually, there are 4 most frequent causes for problems; one is related to overspending, the second is about missing money; this is usually connected to the 3rd problem - unauthorized use and finally there is the issue of forgotten information. All these problems are interconnected and can lead to serious financial problems. However, there are a few simple things that you can do in order to avoid hassle.

First and foremost, remember that your credit card has a limit. When you open a credit line you will be given a certain credit limit that can vary from twice your monthly income to 3 or maybe 4 times that income, depending on past credit history. However, do not spend more than you can pay back. At the end of each month you will have to pay-back the borrowed money and there will be no exceptions from the rule. So lesson number one is “spend within limits”.

The second thing you need to do is keep a record of your expenditures. Keep bank statements, receipts and carbons in a safe place and at the end of each month make a calculation of your deposits and withdrawals. If there is any discrepancy between the two, make sure to contact your issuer bank immediately and solve the situation. Most people find out that they have forgotten about a certain payment that was made with the card, yet you may find out more important information than this.

This brings us to the next issue - the unauthorized use of credit cards. This is a wide problem mainly due to theft. It is safe to keep your credit cards in a wallet, separately from any other papers so that you do not lose cards; it is also recommended that you make sure there is no one watching over your shoulder when you type you personal identification number and off course there is the rule of never giving out the PIN to anybody. Unauthorized use is not only related to theft. Young children should never be given the number and/or the PIN of a credit card. If they are still not aware of the value and importance of money you may find yourself paying for useless items or services. So rule no.2 is Never Give out Your PIN.

There are many things we need to remember and keep track of. One of these things is credit card information such as name of issuer, year and month of expiration, credit card number and PIN and the help-line phone number. If you feel there is too much data to memorize it is best to have everything written down and kept in a safe place like a deposit box or your telephone - there are telephones that offer a special notebook feature which can only be accessed by introducing a code and where you can store data safely. Therefore, another thing you need to do is Keep Records of Important Information.

Managing credit cards is not child's play. You will need to keep good track of your money if you do not want to overspend or lose track of expenditures. You also need to learn that your money is your business and thus attention needs to be paid when giving out credit card identification information. Last, but just as important, you need to keep in handy support-centre contact information in case you need to report irregularities or you have questions to ask. Attention and common sense is actually all you need in order to use a credit card wisely.

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