Category: Credit Score | Lasalle-ialu Finance Portal

Tips on Using Your Credit Card Wisely

Apr 17, 2020 Desmond Charles

Using your credit card wisely can help you to save money. It can also help you to increase your credit score by using a credit card responsibly. There are different types of credit cards, and it is important to choose the right card for you.

Credit cards can be useful in budgeting and also learning how to spend money wisely. When it comes to using cabelas visa credit card, make sure that you form habits that will guarantee you responsible use. Here are some tips to help you to choose your credit card responsibly:

Start By Choosing the Right Credit Card

The first step is to choose the right credit card. You need to choose a credit card that is ideal for your needs. A good credit card should be one that will match your spending habits. When you have a good credit card, you can save money and at the same time get discounts.

Choose one that has low fees so that you can save money. You can always compare rates between different companies to determine the right choice for you. We have credit cards that are made for students, shopping, and other needs depending on the use of the card.

Monitor Your Credit Card Transactions

Monitoring your transactions is the best thing that you can do for yourself. Make sure that you take time each month to see the transactions that you made through that month. Monitoring your spending will help you to determine how you spend your money.

This is also a good time to check the transactions that you did not authorize. With the rising cases of credit card theft, someone can still your identity and start using your money irresponsibly.

Pay Your Bills On Time

Paying your bills on time is the best gift that you can give yourself. Make sure that all the bills are paid on time so that you can increase your credit score. You need to understand that late payment can affect your credit rating significantly.

Always make sure that you pay bills on time by making the payments automatic. You can set automatic payments so that you do not have to forget about making your payments.

Come Up With A Budget

Coming up with a good budget is very important. You need to use your money responsibly, and a good budget can help you with that.

When you have a budget, you do not have to worry about going beyond your limit. Apart from coming up with a budget, make sure that you stick to it.…

Credit Score

Five Hints to Improve Your Credit Score

Oct 20, 2018 Desmond Charles

In the era we live in today, you will be so lucky to land a job that pays you well. The ugly truth is that a huge fraction of the jobs that are up for grabs are great, but don’t pay so well. If you settle for one of them, then your odds of struggling financially and living from paycheck to paycheck are extremely high.

When you are in a challenging income bracket, your credit score becomes the victim in numerous occasions, which means that getting funding can be tough.

The pointers as presented below are for improving your credit score even when your income is low:

Know Your Score

The first step that you should take is to check your employer’s report knowing your score. Afterwards, you will start to work on the strategies to improve it. Besides, you should also be aware of your score as it can hinder you from doing business.

Avoid Making Late Payments

Not everyone like the idea of making payments every time. However, you should try as much as possible to stay away from making delayed payments on your credit cards.

Most people are not aware that their payment history decides almost a third of their overall score and is critical. If you wish to enhance your credit score, but have more debt than you can pay, you should contact your creditors to change your payment dates to immediately as soon as your salary lands in your account.

Ensure that those deductions are made before you spend a single cent. If you don’t, then you might end up spending the money on transport, food, rent, as well as other requirements.

Make Payment Reminders

Credit card payments play a vital role in determining your overall credit score. For this reason, you should set weekly or monthly reminders on your phone calendar to be on the safe side. Make sure that the reminder pops up three or four days before your payments are due and let it repeat until you are done with making the payments.

Don’t forget to put other bills on the reminder too. Avoid paying your rent late as well as utilities because they might show up on your credit score. If possible, ensure that you make these official payments two or three days in advance.

Don’t Close Old Accounts

If you wish to improve your credit score quickly, avoid eliminating old accounts as well as credit cards. The truth of the matter is that keeping your accounts active will assist you when it comes to building a positive credit score.

You can destroy the cards to avoid the temptation to use them unnecessarily. Keep repeating the process every time you get a new one.

File Accounts on Time

If you run a small business, then you should always ensure that you file your accounts before the deadline. The key reason is that the accounts might need extra time for processing, and filing them late might earn you a fine. If your accounts tell a good story, then lenders are more likely to give you the credit that you need.…