Saturday, September 10, 2016

Credit Chat


We talked about our upcoming buy and the fact that we all need to check our credit scores. You should check your credit every once in a while, just to make sure that there aren't surprise cards opened in your name. If you see your score go down rapidly that is definitely a sign of trouble. Unless of course, you can track recent ruinous financial decisions you have made.

It seems like it is much easier (and cheaper) to get a credit score and even a report than it used to be. If you're into that sort of thing.

You should also check out any credit card rewards points you might be accruing. While it's not necessarily  a good motivator to use your card, these points could transfer into free money or various gift cards. If you're shopping for a credit card, you might consider this as a way to make a decision. Also, depending on your level of spending this might even make a card with annual fees (American Express?) worth it. And of course the easiest way to build credit is to use a credit card a lot and pay it off each month.

Another thing to consider is the fact that credit cards have better built in protections compared to debit cards. A credit card might be a good method of payment for an unfamiliar online store or some other such thing.

As always, you have to remember that credit card debt can be a quagmire. There's a reason why credit card companies can offer such rewards.

Profit!

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