What’s the deal with COVID restrictions?

from 2021-07-30-pine-press

Why You Should Care About Child Care

Neverskipapayment. While it is better to just pay off your balance in-full each month to avoid paying interest, it is still better to make a partial payment than none at all. Making at lease the minimum payment each month will allow you to avoid late fees, penalty interest rates, and negative hits on your credit score.

Trytokeepyourcreditutilizationratiobelow30%. Your credit utilization ratio is the percentage of your total available credit that you are using. Being cognizant of your credit utilization ratio will not only help you to keep your balance low; keeping a low utilization ratio will contribute to a healthy credit score!

Keepoldcreditcardsopen,evenifyoudon’tusethem. Another aspect of credit history that impacts your credit score is the age of your accounts. The longer a line of credit has been open, the more it will improve your credit score. Therefore, keeping old credit cards open, even if they’re sitting in a drawer, will help you to keep your credit score healthy.

Inconclusion:

Credit cards don’t have to be an intimidating financial tool or a gateway to debt. Careful and informed credit card usage can be a great benefit for a user and lead to better financial offers in the future. I hope that you learned something from this article and that you feel empowered to make informed decisions regarding your own credit usage. If you have any questions or comments or if you just want to chat, feel free to send me an email at treasurer@spartan.coop!