6 Valuable Lessons To Improve Your Credit
1. Paying interest is one tough chore (*Making monthly credit card payments isn’t fun. But the pain compounds when you’re paying interest on top if it).
2. Even a half-percentage interest-rate reduction matters (Negotiating isn’t always on the docket for financial literacy programs, but it’s worth mentioning — some numbers carry more wiggle room than you’d expect)
3. Credit cards are the way to go, they offer greater protections against fraud (what’s the safest way to make a purchase: cash, credit, or debit? Answer: credit. Choosing to use a credit card instead of swiping your debit card can offer greater protections against fraudulent purchases)
4. Credit doesn’t build itself ( Be proactive. A good credit score can save you a lot of money in the long run)
5. Credit limits aren’t “suggestions” (being approved for a $2,500 credit line doesn’t mean you have $2,500 at your beck and call. In fact, credit bureaus recommend that you stick below a 30% credit utilization rate. That means spending only up to 30% of your credit line)
6. A financial philosophy can help make, or break, your credit score (It’s crucial to have a clear and actionable financial plan as you begin your journey into adulthood)
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Miller Mortgage, LLC.
877-538-7967 (toll free)
515 Lowell Street Suite 1 Peabody, MA 01960