not use a credit card instead of checks or cash?
There’s nothing wrong with using a credit card, as long as it is you controlling
the card and not the other way around. Credit cards are not the same as cash – you
may have to pay annual fees and other charges to use them. With some, you could
even be charged interest for the time period between your purchases and your
payment – even if you pay your bill in full. Bank and retailers set the
interest and finance charges. Charges and fees vary, so pay careful attention
to interest rates, fees, and policies regarding how those fees are calculated.
What should I do if I lose a credit card?
Report the loss or theft immediately to the bank or company
that issued the credit card. If you report the loss promptly,
you will not be held responsible for more than $50 of unauthorized
charges on the card. See NRS 97A.150, citing therein 11 U.S.C. §1643.
What is a credit report?
A credit report is a summary of your debts and a history of
how promptly you have paid your bills, your credit worthiness,
credit standing and credit capacity. The information comes
from the companies where you have credit accounts and from
public court records. It is collected and stored by companies,
often called credit bureaus, which make the information available
to creditors whenever you apply for a loan or credit card
or make a purchase on time payments. See N.R.S. 598C.060.
Under a new federal law, you have the right to one free credit
report every 12 months from each of three major credit-reporting
agencies. Check your reports for inaccurate data that could
hurt your ability to get credit or a loan. Also, incorrect
information can be a red flag that someone is using your identity
to get credit without your knowledge. (For information on ordering
credit reports, see Top
10 Tips for Identity Theft Prevention.)