subject: Protect Your Credit: Important Tips To Keep In Mind This Holiday Season [print this page] Author: Mick Bernard
With personal debt growing, lack of GDP growth and unemployment in double digits understanding the world of credit is that much more important. If you are one of the lucky Americans that have not been impacted by growing personal debt, you know someone that has. Most people do not have time to read the fine print, but they should not have to feel victimized by Credit Card Companies. The following are six methods to protect your credit: The importance of your Balance
It is important to not hold a revolving balance for a lengthy period of time depending on your credit history the result might be a reduction your is credit limit. Even if you are holding 20-30 percent of the overall debt of the card, which does not make you high risk, card holders with new or poor histories have a better chance of getting the rug pulled from under them. Spreading around your debt
Lets say your debt is over 30 percent of the limit of the card, industry professionals will recommend you to split your debt between to cards. The reason for this being so you can spread the debt and your credit, so you can be able to track your spending and credit card companies view an accumulation of credit on one card a dangerous trend. This will effect you credit history. Remember before making any actions with credit always review your credit history and talk to a professional. Raise your score
When talking about credit always be proactive and take the necessary step to raise your credit score, so issuers cannot raise rates and lower limits. This can not be emphasised enough review your credit score and practice responsible spending habits. Making Payments
No one wants there interest rate to change. Remember to stay at your current rate not just your current credit is important but your past creditors play a role as well. Remember to always create a payment plain so you can keep track of your payments. keeping card active
It is important to check with the credit companies because they are able to close accounts if they are not being used. Even with a good credit history, to ensure that your account stays activity, charge a small amount and make sure you pay the balance. This is really important for people that that have emergency cards. Never feel to proud to ask for help! This is a very complicated business and sometimes we need help from third party credit repair process experts. About the Author:
Mick Bernard is a Credit Consultant from Scottsdale, AZ. His company Credit Strategies is helping consumers clean up their credit nation wide. For more credit tips visit us at http://www.onlinecreditstrategies.com/blog/
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