Credit Scores That Are Merry And Bright
Tis the season for gift giving-which means plenty of shopping! This is also the time when the season can cause a huge strain on your credit if you are not careful.
Here are some tips to avoid the credit blues once the new year arrives.
Avoid new credit cards
In the check out line and the cashier asks you if you want to open a store card to save money on your purchase, you’ll want to kindly smile and say no thank you. If you are working on your credit currently, opening a retail store card may not be in your best interest. Opening all these retail store cards for a discount on items you are buying for other folks will hurt your own score, you have to think about yourself this season too.
Don’t rack the cards you do have up
Remember, a good rule of thumb is to continue to pay your cards on time, and pay them down as much as possible. During this time, it is very easy to overuse your cards for purchasing the best gifts for your friends and family members. Set a budget prior to going out to shop and remind yourself what is most important. Is it a new cell phone for your teenager or a new home come Spring? You’ll start to put things in perspective when you keep the end goal in mind.
Keep track of your cards
There is no time like the Holiday season for identity and credit theft. As long as you are taking extra precautions at this time of year, you can feel good about making purchases out and about or, from the comfort of your home. Keep in mind:
- Online shopping is great! Ensure the URL address or lock symbol on the page is showing that the site is secure
- Conceal your cards somewhere safe and don’t carry too much cash when you are out shopping
- Stay vigilant-if possible, tuck your cell phone away when making a trip back to the car so you can be alert the whole time
- Use secure ATMs at your bank
- Put those receipts in your wallet or purse and shred them once your bills arrive. Gift receipts are great incase of the need to make an exchange
- Monitoring your credit is going to be vital at this time. Report any fraudulent activity once the season is over and take action
If you would like to learn more, please contact Credit Law Center and an analyst will be happy to provide you with additional information.
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