How to Use a Credit Card
1.Getting Your First Credit Card
You need prove your financial responsibility .When you apply for a credit card, the business or bank issuing you the card wants to know that you’ll be able to pay back any money you spend. To do this, they will check your credit history. which is made available to them by credit report agencies
2 .Start making purchases
You now have a credit card. You can now start using it to make purchases almost anywhere
3.Using Credit Cards Responsibly
Build your credit history with regular small purchases and keep your balance low as possible. You should avoid getting multiple cards at once .
But your kids are too young to know how to use a credit card safety. Any credit use without knowledge or permission is credit fraud and can lead to severe financial damage as well as other serious issues (and stress ). Credit fraud is a major problem both in the US and around the world. The Javelin Strategy & Research company’s “2009 Identity Fraud Survey Report” found that there were 11.1 million victims of credit fraud in the United States alone. This criminal act is most likely so rampant, because it is close to impossible to safeguard yourself 100 % of the time. You can, however, significantly decrease your odds of being a victim by learning to use your credit cards safely.
TEACHING YOUR KIDS HOW TO USE A CREDIT CARD SAFELY
Most kids today get a credit card, either from a parent or on their own, around the age of 15-16 years old; but few are taught about the seriousness of credit fraud. This is a problem for many reasons, but especially because young people often suffer the most from credit fraud! It can take years for credit issues to be
resolved, and in the meantime young people could lose access to school grants or loans. be unable to get a loan for a car or rent an apartment, and even be passed over for jobs because of their seemingly low credit. Teach your children the tips below so they can actively prevent this type of crime from happening to them.
PREVENTING CREDIT FRAUD
The most important thing you can do to safe guard yourself against any type of fraud, is to be vigilant about who sees your personal information. This is why protecting yourself from credit fraud is so difficult, because you are often expected to hand over your credit card to someone you don’t know. Try to keep control of your card as much as possible, and if you must give it to someone than watch closely how it is used. For obvious reasons this can be difficult, but is by far the best method of preventing your card details from being stolen.
Other ways to protect your credit card information include making sure no one is observing your card details too closely, using more than one device to run your card or using a device that doesn’t look familiar. Some criminals use skimmers, which are small devices that steal information from your card’s the magnetic.
CREDIT CARDS ONLINE
When shopping online, only buy from reputable websites and check that the website uses some type of SSL security. You can usually see that a website is secure by looking at the page’s URL, which will start with “ https:// ” if it has SSL security, instead of the regular and unsecured “http://”. If you keep any financial or personal information on your computer, make sure you have updated anti-virus and anti-malware software.
PROTECTING YOUR PERSONAL INFORMATION
USING THE CREDIT BUREAUS TO PREVENT FRAUD