I am a freelancer and I find that I am forced to live on credit sometimes..while I wait for payment. Is there any other way around this? I am now in debt..but it started first with my old North American car (I since cashed some stocks out with they were up and bought a Toyota Corolla CE).
It was one thing after another and they were big bills! I swear, I am NEVER going to own a car past 5 years...it’s like the computer industry...if I sell and upgrade every year or two, I can at least get a good buck for it. Then, I had to travel back to my hometown on a family emergency...was gone for two months in total...when I got back, half my clients went somewhere else! Being in your own business - well - there are pros and cons...

Wow, good advice there, palefrost! I'm sure that not many people bother checking that on a statement (including myself!)

Chase keeps trying to play games with our interest rates. They will be losing us as customers.

Wow... well this certainly made me sit up and take notice... Chase is what I have! I've been paying off the full balance, but over the few months that I'm Christmas shopping, I usually carry the balance for 3 months or so.

I even keep the charge slips saved until I get my statement and only after I tally the transactions, do I pay the amount.

That is one bad habit that I have. I never look at my credit card bill. All I do is look at what I owe and pay it. I guess I am going to have to start looking at it more closely.

Thanks for the valuable tip. I am going to keep an eye from now on.

Good advice.

I agree to paying off your cards in full each month. This not only saves you money but keeps you from living above your means and getting yourself in deep. But, good news is coming in the new Credit Card Bill! Bad news, most of these will not take effect until 2010.

1. No more universal default
Universal default allows card issuers to raise interest rates on customers based on the customer's behavior on another unrelated account. For example, if you've missed a payment on your utility bill or have your credit score lowered, a card issuer may increase the interest rates on your account. This policy and practice would no longer be permitted.
Issuers that meet this requirement:
American Express (14 cards), Capital One (14 cards), Citi (14 cards), Discover (5 cards), Wells Fargo (5 cards)

2. Sufficient time to pay bill
Credit card holders will be provided with reasonable time to pay their bills. Card companies would be required to mail billing statements 25 calendar days before due dates (sometimes referred to as the "grace period"), eliminating the current minimum notification of 14 calendar days.
Issuers that meet this requirement:
Capital One (14 cards), Discover (5 cards), First Premier Bank (3 cards), Pulaski Bank (1 cards), Wells Fargo (5 cards)

3. Protection against arbitrary rate increases
Credit card companies can no longer arbitrarily change the terms of their contracts with a credit card holder, thus banning the practice of "any-time, any-reason re-pricing." If a card holder is subjected to interest rate hikes due to legitimate reasons, card holders would have the right to opt-out of the changes by canceling their card and paying-off the remaining balance with existing interest rates and terms.
Issuers that meet this requirement:
None yet

4. Proper and timely notification of rate increases
Credit card companies are now required to provide cardholders with a minimum 45-day notice of any pending interest rate increase, thereby allowing consumers sufficient time to consider their options.
Issuers that meet this requirement:
Bank of America (41 cards), Citi (14 cards), Discover (5 cards), HSBC (3 cards), Wells Fargo (5 cards)

5. Fair allocation of payments
Credit card companies will more equitably allocate payments on balances with different interest rates. For example, you may have a low balance transfer rate on your account with a higher interest rate for purchases. Current practice has credit card companies applying your payment to the lowest interest rate transaction first, thereby extending the time for you to pay off higher interest rate balances.
Issuers that meet this requirement:
None yet

6. Right to set limits on credit
Credit card companies will have to provide consumers the option to have a fixed credit limit that cannot be exceeded. This would help the consumer to avoid over-the-limit fees being applied to their account.
Issuers that meet this requirement:
American Express (14 cards), Capital One (14 cards), Citi (14 cards), Discover (5 cards), First National Bank of Omaha (8 cards), U.S. Bank (13 cards)

7. No more double-cycle billing
Double-cycle billing allows for credit card companies to compute finance charges base on purchases made in current billing cycle rather than previous billing cycle. This policy hurts consumers who pay off their balances in full in one statement period but not the next. Credit card companies will now be prohibited from using this double-cycle billing practice.
Issuers that meet this requirement:
Bank of America (41 cards), Capital One (14 cards), Citi (14 cards), First National Bank of Omaha (8 cards), First Premier Bank (3 cards), Pulaski Bank (1 cards), U.S. Bank (13 cards), Wells Fargo (5 cards)

8. Protection from due date gimmicks
Payments made by a cardholder by 5 P.M. EST on the due date would be considered on time, and therefore would allow the consumer to avoid incurring late payment fees and possible interest rate increases.
Issuers that meet this requirement:
Bank of America (41 cards), Capital One (14 cards), Citi (14 cards), Discover (5 cards), First National Bank of Omaha (8 cards), HSBC (3 cards), Orchard Bank (2 cards), U.S. Bank (13 cards), Wells Fargo (5 cards)