Credit Tips
Credit Tips
1) Having a credit card is equivalent to having debt, be thrifty
and make regular payments on your credit card to avoid spiraling
into debt you are not able to repay.
2) When considering a credit card choose the
card with a credit limit that best suits your need for a credit
card. Do not choose the card with the highest credit limit only
because you qualified for it.
3) It is always best to contact the company with
whom you have an overdue account to arrange a payment schedule
before the account goes to a collection agency. Making contact
with the company will help to keep you out of negative credit
situations.
4) Do your own research on any loan that you
are considering before signing on the dotted line.
5) Take every possible precaution to protect
yourself from identity theft and credit card fraud, especially
when performing transactions online.
6) If you know that you have debt that has been
sent to a collection agency for recovery, then the best thing
for you to do is contact the agency. The sooner that you make
contact with the debt collectors to pay your debt the better your
credit will be. In some cases, you may prevent the debt from being
reported on your credit by paying off the collection account quickly.
7) If you find yourself in escalating and uncontrollable
debt, you should consider contacting a non/not-for profit credit
counseling organization in order to get help. Listed below are
a few reputable credit counseling services that can easily be
found on the internet:
• Credit Counseling Centers (of your state)
• American Consumer Credit Counseling
• Family Credit Counseling Service
• Christian Credit Counseling Service
8) For more information about making educated,
responsible decisions about your credit and dealing with accounts
that have gone to a collection agency visit http://www.ftc.gov/bcp/conline/edcams/credit/index.html.
