Want to enjoy the holidays, more, and not have to put “Improving Personal Finances,” on the top of your New Year’s Resolutions list?
Greg Lindberg offers holiday cheer, by providing several tips that will have a significant impact on lowering your credit card bills come January, as well as, improving your credit score:
Get Credit Card Balances Under Control: If you have a lot of debt on multiple cards, consider consolidating the debt by applying for a personal loan if your credit score isn’t too bad. Most credit experts advise to have as much revolving credit as possible, with a goal to have less than 30% credit utilization.
Keep Older Accounts in Good Standing on Your Report: Don’t close old credit cards that have a good standing on your report – even if you don’t use it. You want the report to show that you’ve had handled your credit well in the past. Creditors like to see this, too, and it will improve your credit score. Keep the good accounts and work on the bad ones to get that score up.
Pay Bills On Time Every Month: On-time payments represent a major part of your credit score. Stay on top of payments, because even one missed payment could have a significant impact on your score. If you’re concerned about not being able to make a payment on time, Greg Lindberg says to contact your creditor to see if there’s an alternative.