Understand how you can avoid debt and use your credit card responsibly to make payments.
How to Use Your Credit Card Correctly
How to Use Your Credit Card Correctly: FAQs
What Is the Consumer Credit Act?
Basically, the Consumer Credit Act is something that protects credit card users in the UK. Put simply, this legislation gives you various different rights and ultimately safeguards you when it comes to credit agreements. As such, it’s worth familiarising yourself with some of the rights you have under this act so you’re always treated fairly by your credit card issuer.
What Should I Do If I Find Errors on My Credit Report?
Any mistakes you might find on your credit report can definitely unfairly harm your credit rating, so it’s always worth checking your credit report regularly for any kinds of inaccuracies — accounts you didn’t open or incorrect payment information, for example. If you do end up finding errors, always report them to the relevant credit reference agencies to get them fixed.
Do I Need to Be Cautious When I Perform Credit Applications?
‘Hard inquiries’ are made on your credit report every time you apply for credit, and if you’re doing this too often, it might imply you’re under financial stress and need to borrow a significant amount of money quickly — risky behaviour as far as lenders are concerned. So, try to only apply for credit when you genuinely need it.
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