TIPS FOR CARD HOLDERS sub

To avoid further credit-card pain, here are some tips from financial experts:

Complain — nicely. If consumers feel their credit limits, for instance, have been reduced unfairly, they should talk with their bank or other credit-card issuer to see if there’s a valid reason.

Shop around. For those with good credit scores, it’s an ideal time to find a better deal. Use credit-card comparison calculators, like those at www.lowcards.com or www.bankrate.com.

Consider transfers. Look into transferring your balance to a lower-interest-rate card. But be wary of fees and low introductory rates that can expire.

Be cautious on closures. Lots of fed-up consumers want to close their accounts. But experts warn it can backfire. You’ll hurt your credit score if you close older accounts that show long credit history. With fewer cards, you’ll likely increase your debt-to-available-credit ratio.

Pay on time and more than the minimum. Both will help avoid fees and whittle down your debt.

Source: Sacramento Bee