Avoiding Bad Credit

 

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Your credit report keeps track of how you’ve paid your debts in the past. It is a record of your current debt amount, and how much debt you have already paid off.  Keeping strong credit is important and it can help you in a number of ways. It will help you with future loan and mortgage deals, it will be easier for you to receive credit, and sometimes you can get better rates on other things in life. It is always good to know the status of your credit and check your credit report once a year to make sure it is correct. You will keep good credit by paying your bills on time. You also need a credit card to build your credit, but you must use this credit card wisely.

Do you know your credit score?

Do you have good or bad credithave-you-pulled-your-credit-report-yet

  • Try and stick to 1 or 2 credit cards
  • Think about getting a secured card first if you have never taken out a line of credit before.
  • Keep track just like you would for your bank account
  • Try not to put big item purchases on your credit card
  • Pay your credit card bill as soon as you get it
  • Try to always pay more than your minimum balance due or pay off the entire balance every month
  • If your balance keeps going up then you should consider not using your credit card for a while
  • Lower your credit limit if you need too
  • Get a low interest rate card with no annual fee if you can

It is important to remember that we cannot become financially dependent on credit cards. One of most difficult money habits to break is living off credit which will inevitably lead to debt. It is never smart to put everything on your credit card it will just put you in a more stressful situation in the long run. Avoid shopping sprees and paying off all your bills with credit. Always remember to live within your means even when everyone else around you is living what you consider the “good life.” Credit cards can be convenient, but not a financial dependence. If you understand the importance of fully paying off credit card bills and all other bills on time you will keep your finances under control and maintain a good credit score.

No credit check necessary, just stop by Fast Cash Title Loans, LLC. today  or call the team at (703) 444-3840 and we can help you get the cash you need fast!

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