Depending on your circumstances it may be tough for you to stay on top of your credit card payments with all the other bills you may have.
Here are a few tips that should help you maintain your credit score and stop missing payments and paying late fees:
1. Set up alerts: By either calling your credit card issuer or by using their online service or mobile services, you can easily set up text or email alerts that will alert you when your payment due date is coming up. That way you make sure you don’t forget to pay.
2. Consolidate payment dates: If you have several credit card cards, you can ask your card issuer to give you a different payment date, you can line the date up with the same payment date as the other(s) and it will help you eliminate having to remember multiple payment dates.
3. Don't spend more than you have: We definitely encourage people to follow a personal budget to assist them in staying on top of how much money they earn and spend every month, that way you have an idea of what their expenses and income will be. Click here to get our free budget template for your laptop or desktop computer! When it comes to spending money from your credit cards it’s important to continue following your budget. Do not get used to pre-spending money you have not yet seen a deposit in your bank account for. Use your credit card for things you would use your cash for. Something to remember as a new cardholder is to not spend more than you have in your bank account.
It may seem overwhelming at first, but if you remember to pay the full statement balance by the due date it can help you establish a sturdy credit history *which makes up 35% of your credit score* and make sure that you avoid late fees and interest charges.
Once you learn how to leverage your credit cards & you’ll be a wealth-building MONSTER!