Credit Management Tips: Part II

We're back with the second half of our entries on credit management.

You can read our first set of tips here. Today, we’ll be discussing even more actions to take to keep your credit in check. The first tip is to try to be as organized as possible when it comes to taking on your credit management. It’s a tall order, but not impossible.

Try employing a bit of a debt calendar. This is where you put all of your monthly payments on paper (or a digital calendar). It allows you to track when you have an upcoming payment. That way you won’t fall victim to absent mindedness in the event that a due date slips by you.

Paying Down Your Balances

Another great tool is to use an autopay feature. This debits the money from your account on a regular, monthly basis without your having to lift a finger. Use caution here, though. If you don’t have enough money in your account to cover the charge, it can lead to a missed payment, overdrafts, and more.

While our previous tips were more about getting ahead of your credit, here we'll examine tips for those already in a bad spot.

For example, before we mentioned that it’s good to keep your balances below 30% use. But what if you’ve already passed this point? We wish we could tell you there’s an easier fix, but in this case, there’s no way around it. You’ll have to pay more than the monthly minimums as much as possible to get your balances down to a favorable percentage.

Credit History

Lastly, there’s the effort of building your credit. The more of a credit history you have in general, the better it bodes for your overall credit. Of course, the less negative impacts on the history the better, too.

Have more questions regarding banking services? Contact Affinity Bank today. We offer a wide range of supports to help keep your finances in a secure place while you navigate them.