BBB Offers Tips to Use Credit Cards ResponsiblyRidgeland, Miss. November 5, 2007 – With holiday shopping in full swing, credit card charges are surging. Consumers appreciate the convenience and safety of credit card transactions. The “buy today, pay later” philosophy has become a holiday tradition.
“Credit cards are useful tools when used responsibly," said Bill Moak, President/CEO of the Better Business Bureau (BBB) of Mississippi. "The challenge is to remember the ‘pay later’ part of your credit card agreement. The BBB encourages consumers to carefully review credit card options in order to avoid a post-holiday credit ‘hangover’.”
This is particularly important if you are considering applying for a new credit card. US households receive an average of six card solicitations per month which can be tempting this time of year, the BBB advised.
“Our BBBTips™ on Credit Cards is designed to help guide consumers to make credit card decisions that are right for their particular financial circumstances,” said Moak. The BBB system's new educational resource is available online at www.bbb.org/tips/clearpoint. BBBTips™ on Credit Cards is intended to assist experienced cardholders as well as those seeking to qualify for their first credit card.
Topics include:
- Various types of credit cards, reward programs and other enhancements;
- The pros and cons of credit cards;
- Credit terms and definitions;
- Understanding credit card solicitations and applications;
- Deciding which credit card is right for your situation;
- Evaluating balance transfer offers;
- Steps to take if you cannot make a payment.
“Consumers need to carefully examine all credit card offers before deciding what suits their budget and spending patterns. We join with the BBB to provide practical information about credit cards to help consumers be credit ‘wise’ and creditworthy," said Dan Oelrich, President and CEO of ClearPoint.
The BBBTips™ program supplements other helpful information provided by Better Business Bureaus to promote an ethical marketplace. In 2006, BBBs in the United States and Canada provided more than 90 million instances of service to consumers and businesses. At the Mississippi headquarters, more than 400,000 information requests and 2,700 complaints were handled during the past 12 months.
For assistance from the BBB of Mississippi, visit http://www.ms.bbb.org/ or call 800.987.8280.
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