How to Make Your Credit Cards Work for You

(ARA) - Virtually every household in the United States has a credit card that enables them to maintain a certain lifestyle and build credit history. And while most consumers groan when their credit card statement arrives, they don’t often realize that their credit card company offers a host of different tools and information to help them better manage their finances.

In order to have a truly rewarding relationship with a credit card company, consumers should take advantage of the financial tools and resources the companies offer – typically at no cost. The financial management offerings vary by the bank issuing the card, but the credit management experts at Discover Card point out some key things to look for:

1. Calculators can be your best friend

For many people, math can be quite frightening especially when it comes to personal finances. However, this doesn’t have to be the case. Some credit card companies do your homework for you. For instance, Discover Card offers its card members free access to financial calculators. The calculators help guide card members’ spending and payments by calculating the period of time it may take to pay down a balance or how a large purchase may affect their account.

2. Financial literacy information

It’s important to know the basic credit terminology when reviewing your statement and cardholder agreement. Most responsible credit lenders provide consumers access to a financial glossary. Beyond that, some credit card companies offer informative materials regarding credit-related topics such as credit scores, identity theft, terms and conditions, and fraud. This information can certainly come in handy when you need quick guidance or if your credit card has been lost or stolen.

3. Helpful tips that go beyond your account

Since credit plays such an integral role in the daily lives of all Americans, it makes sense for credit card companies to provide tips beyond finances. Various issuers may provide resources that are dedicated to helping consumers become savvier when it comes to managing their time and money. Look for resources that contain articles relevant to all aspects of life including shopping, travel, finance, home, technology, book reviews and more.

4. Easy account management

Many credit card companies offer cardholders great flexibility when it comes to their account. Consumers can come out ahead if they take advantage of tools that help better manage accounts. Features such as payment due date customization and email alerts help consumers avoid late fees. Some issuers also offer cardholders the ability to make an online payment right up to the payment due date, as well as automatic payment options.

For more information and tips to practice good credit card management, visit www.discovercard.com.

Courtesy of ARAcontent