Scriptural Network

 

Scriptural Home
Master Your Money
 
Keep your credit (cards) clean
Why Insurance planning?
5 Keys to Financial Success
Before you take a housing loan
Diversify, diversify, diversify?
Compounding: Loans or investments
more...
Financial Glossary
estore
DVDs (region -free)
estore
Instant Downloads
estore DVD eWorkbooks
estore DVD eLeader's Guide
estore Small Group tools
estore Powerpoints & eWorkbooks
Business by the Book DVD
Clean up your Credit Cards

 

Scriptural Financial Freedom Obtaining God's Blessing

 

 

 

 

 

Keep your credit (cards) clean

A good credit score is your passport to a home, automobile, insurance and yes, a credit card. However, with a devastating sub-prime mortgage crisis and a credit crunch gettting tighter by the month, one thing financial institutions are looking out for - your credit card debts.

Banks have been forced to write off record levels of credit card debt, so things are going to get rougher. So make sure you pay your credit card bills in full every month and on time. Late payments will lower your credit score and may even trigger an automated increase in rates. Moreover, it could result in a vicious cycle of credit-card debts.

Most people tend to look for credit cards that give you tempting rewards like travel incentives, or discounts at expensive restaurants. But most of these perks are not your regular bills and payments. Unless you fly often on business trips, travel rewards are aimed at getting you to spend more. Choose credit cards that comes with discounts to your regular bills, like gas, groceries, regular payments, things that require you to pay regularly.

Never use your credit cards to pay for debt. The debt amount will just keep mounting. Many people justify indebtedness with the thought that they are making an investment when they purchase items. That's an unwise assumption. And don't apply for new credit cards you don't need.

 

Today's Bottom Line

If you haven't already done so, check your credit report. And make sure you clean your credit cards.


This article is from financial articles

 


 

 

 



Copyright (c) 2009 by Scriptural | Term of use | Privacy policy | Shop