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Monthly archives "December 2016"

Wisely Using Credit

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Three Ways To Wisely Use Credit:

Throughout your life, if you use credit wisely, it can save you tons and tons of money upwards of hundreds of thousands. It can secure your future, to have and get more. Poor credit can be erased by using credit wisely. Use the strategies listed below, to help build your credit and say bye-bye to poor credit.

First Using Credit: Do not make unnecessary purchases or purchases that are higher priced than necessary. Purchase items that are comparable in quality but less expensive. The cost on the price tag is not the only one you pay: but also interests and finance charges. To help you to decide whether to pay $300.00 or not for a pair of shoes, take two or three days to think about it, discuss it with your spouse, look for a comparable pair. Make wise decisions before purchasing items.

Acquiring  Credit:

In managing your credit, do not take on more than you can comfortably afford. You should never have more credit than you gross in a year. Do not activate new credit cards or lines. Close out high interest rate cards if you acquire lower interest cards. Having a lot of different cards is not good, does not improve your credit standing, a bit too much of a good thing. It can also lead you to spend more.

Keep Up With Credit:

If you fall behind on your credit, remove the temptation of using your cards. Let your parents, sibling, spouse or trusted friend to hold they for you until you get credit down. Even rent a small safety deposit  deposit box at your bank and put all cards in it. Avoid late charges and fees by paying credit cards off each month and paying on time.

You need credit in today’s world. Take on only what you can safely handle don’t go spending crazy. use credit wisely, then when the time comes, you’ll have the credit you need to purchase an automobile, maybe buy a new house, or rent a condo or even to obtain certain employment. While credit has gotten to be a necessity, be sure you can handle it wisely.