Credit Card Habits to Start Now
Many consumers tend to develop bad credit card habits after receiving their first credit card. It is important to stay on top of your finances and be responsible when making monthly payments. Check out these beneficial tips on practicing healthy credit card habits.
Many banks provide you with an option of automatically withdrawing monthly payments from your checking account to pay off your credit cards. Autopay will set-up your future payments on the day it’s due. This option will eliminate additional fees that may incur if you miss a payment. Contact your bank to learn more options on how to signup for the autopay program.
Set up Monthly Reminders
Even though you may be receiving monthly notices reflecting your “previous” balance, it may not be your most current balance. You should be checking your current online balance at least once a month. You also want to be aware of any fraudulent charges that may have occurred on your account without your permission.
Be Aware of Your Credit Card Perks
Most credit cards recompense you with “reward points” that match your spending habits. Anytime you make a purchase on food, clothes, airplane tickets, or hotels; you will get rewarded for each dollar you spend. Before applying for a card you should look into the perks each card provides. This will also help you save money on future purchases.
Developing healthy credit card habits can potentially boost your credit score. If you're currently looking into purchasing a home soon; but have a low credit score, you should try implementing these great credit card habits. You will see a huge change in your credit score within the next few months.