Experts Reveal the Best Credit Card Practices in 2016

(Newswire.net — January 12, 2017) Tallahassee, FL — Credit cards have been an important part in the lives of millions of people. However, not all card holders are capable of managing their cards well. There are better ways to handle cards and ensure that they serve the best of their purpose.

Experts reveal the best credit card practices in 2016. One of the best things that card owners need to do is to simply shift to EMV (Europay, MasterCard and Visa) chip. This computer chip is believed to make it difficult for thieves or fraudsters to counterfeit.

It can also be quite helpful to freeze the card’s credit to increase protection against identity theft. It is important to remember that creditors often view the credit report before a credit is extended. Freezing it will hinder them from seeing your file.

According to the Federal Trade Commission, by freezing credit, the creditors won’t approve  credit and this won’t affect the credit standing of the card holder.

The National Cyber Security Alliance and ESET, which is an antivirus and security software firm, reveal that in 2014, nearly 20 percent of the households in the United States suffered from data breach.

Experts recommend that holders should monitor their credit report and statements for any sign of fraud.

In the recent Bankrate survey, it was found that 51 percent of individuals in the United States wrongfully believe that high balances in accounts can help with the credit score for as long as the accounts are paid on time.

This is a myth that just doesn’t seem to die. It is imperative that the whole family gets educated about the responsible use of credit cards. One of the best things to do is to simply create a plan as to when and where the credit cards should be used.

Individuals who want to bump up their credit score should also think about making payments. It could be helpful to remember that larger payments can result in high annual percentage rate. Card holders may also take into account opening a balance-transfer credit card.

One of the most important steps to take in managing a credit card is to be vigilant about fraud.  Even if the card is already embedded with EMV chip, it is essential to be more careful these days.

There are anti-theft tools such as the RFID blocking sleeves, which card holders can use to protect their cards from thieves. These sleeves are designed to fit inside pockets, wallets, and purses and ward off fraudsters.

The RFID blocking sleeves can be purchased at amazon.com (http://amazon.com/rfid-passport-sleeve-protector/dp/B0150T0AI2).