CONSUMER 6: Balancing your credit, your bank account & space heater safety

If you're using a space heater to stay warm, we have some safety tips. Space heaters can keep you warm during the winter freeze, but they also can be a hazard, if you're not careful.<br> <br><b>Space

Wednesday, January 3rd 2001, 12:00 am

By: News On 6

If you're using a space heater to stay warm, we have some safety tips. Space heaters can keep you warm during the winter freeze, but they also can be a hazard, if you're not careful.

Space Heater Safety Tips

Keep space heaters at least three feet away from furniture, bedding or other combustibles including walls.
Check the heater to see that it has an "approved" label from a safety laboratory.
Make sure heaters using gas, propane...kerosene or other liquid fuels are properly ventilated and don't store extra fuel near heat sources or flames.
Plug electric space heaters directly into wall sockets, not into lightweight extension cords.

If you racked up credit card debt during the holidays, you may be trying to transfer the balance to a low interest card. Before you attempt it, there are some things you should know. Credit card experts say while you may have a lower interest rate for the amount you transfer, new credit card purchases could be subject to a much higher interest rate.

And when you make a payment, companies will often apply the money to the older lower-rate debt first. So if you have extended payments, you could end up with higher interest rates. Before you switch your credit balances, check each card's policy.

Balancing a check book can be a big balancing act for some. The Consumer Credit Counseling Services says if you continue to bounce checks, you could face some serious consequences. Your bank could close your checking account, and you could be banned from opening an account elsewhere for years.

Make sure you have overdraft protection, and find out what your bank's policy is regarding overdrafts. If you find out a check has bounced, contact your bank immediately.

If you have questions, comments or suggestions for Consumer 6, call our tip line at 732-6111 or send an e-mail to dwhite@kotv.com.