As January unfolds, spending from all the holidays rears its head. If you used a credit card for your shopping, you most likely spent 30% more than if you had paid cash. The credit card companies are hiking up their minimum payments and you may be worried about your overall credit rating.
If credit is a concern, DO NOT, spend a dime on anything that looks like, sounds like or says it is, a credit repair clinic. No one can fix your credit, no one but you. Here’s how:
1. Pay your bills on time…take advantage on online banking and payments.
2. Always pay a few bucks more than the minimum required.
3. Work, on paying down the balance.
That’s it. No fancy tricks or gimmicks.
One other tip. Call the 800# on the back of your credit card(s) and tell the customer service rep that you are getting offers in the mail to open an account with another financial company at a lower rate. Ask for your rate to be lowered. If you’ve been paying on time, 80% will drop it a few percentage points.
It’s a smart money move.
Final recommendation–get my latest book, Money Smarts: Personal Financial Success in 30 Days! It’s an excellent way to start the New Year.