If you want to practice good credit habits, remember these important points.
Establish Good Credit
- Maintain active checking and savings accounts with no checks returned for insufficient funds.
- Use a debit card to practice responsible spending.
- Use your personal checking account to pay bills on time.
- Apply for a major credit card when you are ready to use one responsibly.
Use Credit Wisely
- Create a budget and stick to it.
- Do not charge more than you can afford to pay in full each month.
- Pay bills on time. Never skip a payment.
- Compare sales slips to your statement balance each month.
- If your card is lost or stolen, report it immediately.
Monitor Your Credit
- Review your free credit report and credit score annually.
- Review your credit report for inaccuracies or suspicious activity.
Remember The Consequences
Using credit is a privilege and a responsibility. Remember that
credit is borrowing, so do not get carried away with the
opportunity to purchase items you cannot afford.
Used irresponsibly, credit can end up costing thousands of dollars and damaging your financial reputation for years ahead.
Used wisely, credit can help you obtain a school loan, new vehicle or home while building a secure financial base for the future.
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Basic Money Management
Basic Money Management
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