Simple Steps To Better Credit

Ordering a copy of your credit report is just the first step in protecting your credit. Analyzing the information contained in your credit report and taking action are the more important steps for you to take. Are you up to that challenge of using your credit report in improving your credit standing and increasing your credit score? If yes, then use this credit report guide that will help you face up to the challenge.

Be a responsible payer. Obviously, the best way to boost your credit is to be a responsible borrower. This means, you should not only strive to pay your debts but to always submit your payments on time. This may seem like a really easy step but putting it into practice can prove to be harder than you think. If you’re really serious about improving your credit score, paying your debts on time should always be your priority.

Don’t get too many credit cards. Owning several credit cards will not do much in improving your credit score. In fact, too many credit cards can even cost your credit score to drop if you keep incurring unpaid balances on these cards. Having just one or two credit cards should be enough to help you build credit. It will also help you put your credit card usage under control.

Pay off your credit card balance in full. If you are in the habit of paying only the minimum due, you’re putting yourself at risk of mounting debts and lowering your credit score at the same time. Carrying over your balances from month to month costs you additional interest payments which you can altogether avoid if you completely pay off your balance by the end of the month. Think about how much you can save and what a big improvement it can make on your credit score.

Choose creditors wisely. Whenever you’re applying for a credit card or a loan, take the time in researching and comparing different lenders. It is so easy to believe what the ads say. All lenders promise to give you the best deals but only few can live up to their promises and it is up to you to find them.

Control your spending. When it comes to avoiding debt problems, everything all comes down your spending habits. How well you manage your earnings and how you control your expenses makes a big difference in building your credit. The key is to use only your credit cards on important expenses and to know your priorities. If you’re not going to borrow more than what you can afford to pay back, you should have no worries about not being able to pay your debts at all.

Be aware of what your credit report says about you. Check your credit report at least once every six months to ensure that there are no false charges or inaccuracies. This will help you maintain your good credit standing. In case there are errors to be corrected, checking your report will enable you to make a dispute right away and have this potentially damaging information removed from your credit report.

Cash Back Credit Cards – The Real Deal

Many credit card companies offer incentives for people to open accounts with them. By far the best of these incentives is the cash back rewards that many companies have adopted in an attempt to sway consumers away from their competitors. The purpose of this article is to provide a brief overview of cash back credit cards and how to use them responsibly.

What Are Cash Back Credit Cards Cash back cards are credit cards that offer cardholders a percentage of cash back on the purchases they make with the card. Unlike other rewards, like travel miles, which can only be used for certain things cash can be used for anything you want. This is the reason these cards are the most attractive to consumers.

How Much Cash Back Will You Get The percentage of cash back that you earn varies from card to card. At this time 1% seems to be the average from most cards. Most cards vary the percentage depending on what you are buying as well. For example, purchases at grocery stores and gas stations may earn 3% while other purchases earn only the normal 1% back.

How Will You Get The Cash Back The method of giving the cash back also varies from card to card. Some companies credit the account in the amount of the rebate while others send a gift card that can be used anywhere for purchases. It is a good idea to read the fine print before opening an account if you are particular about the way you receive your rewards.

When To Avoid Cash Back Credit Cards Cash back cards are designed to be appealing to consumers so they will open an account. Before you sign up for what seems like a great way to earn money while you shop, read the fine print. Does this card carry a higher APR than one without cash back? In that case, cash back won’t actually get you money … you’ll just be spending it back on interest. Also take notice of whether or not there is an annual fee charged on the card. It is counterproductive to pay money in order to earn cash back rewards.

Once you know all the answers to the previous questions, you will be well on your way to deciding whether or not to open a cash back credit card account. Then all you’ll have to do is go shopping!