5 things to protect your credit score this holiday season

5 things to protect your credit score this holiday season

1. avoid the offers for instant credit and don't open new credit lines.

"Do you want to save 10% today on your purchase today?". All I asked this question when you pay for our purchases. Every store under the Sun wants to give you their credit card. This is not good for your score. Damage to the result you will incur by opening a new credit line worth not just a handful of dollars saved. Managing credit credit score poor quality and she frowns credit scoring system. Applies not only to the card. You may want or need to apply for a new car loan, new home loan, refinance home loan. Request for credit store to save a few dollars, can hurt your chances of getting a loan is important in a good rate until the middle of next year.

2. avoid excessive spending

Spending affects credit. 30% of your credit score made up of how to manage your debt, and when your credit card balances exceeding 30% limit available to them, thanks to the system log red flags for you and your score immediately. The logic behind this is that if you Max your credit card suddenly, it appears that the system as if you were in financial trouble. Only charge if you pay the balance in full before the next statement date. In addition, overspending and overcharging will cause you can do bigger balances. It is best to keep your balances low at all times.

3. pay bills on time

35% payment date is your credit score. 30-day late can cost you 50 points or more. December is usually the busiest time of year. Active calendars full of work and social obligations to family and friends, mad season can occupy you and cause you to be late in paying bills. Make staying on top of your bills with priority. Put all of your bills on file and make sure to pay them on time. In doing so, you will save your score on your credit score and absurd amount of $39 or more late. In addition, when the delay in paying your bills, you can cancel any preferential funding and your account will default to pretty much higher interest rate. Ding to your credit score, the late fee is high, and a significant increase in rates all substantial incentives to make sure you are in time with your bills. I recently got a call from a customer who was late, but not late 30 days rate jumped on his card to more than 30% per year!

4. take the time to plan and setup your gift giving

We all do it. We walk into a store ready to buy a particular item, and end up getting lured into spiral tunnels. A panic that spending does not store the item went on buying; decides that if you purchase this item for this person, then you have to buy this item to someone else, give in to temptation of another must have tool. You can prevent this trap woven good for retail stores to do your own research online. Preparation before you can darken even automatic threshold to create attractive retail, you can determine where you can buy specific items and what are the prices. When you do this, you can avoid traps retail and keep control of your spending (and your sanity). Online shopping sites have grown so much in popularity. Traffic to these sites more than 30 per cent from last year. There is a wealth of information on the Internet. In fact, www.pricegrabber.com lists all the hottest holiday items and tells you who buy them and how much. Remember, if you pay your credit card bill before the date of the statement, will help your scores. Www.froogle.com another great site to search for the item below.

5. manage your credit wisely

To track your credit card balances and keep them as low as possible. Studies show that consumers credit card balances increases, it becomes increasingly apathetic about their assets and even add new debt. By tracking stocks, will maintain a sense of control over your credit score and your money. Write out the outline of who you owe and how much you owe, pay the minimum. Will help you get a handle on the Bills and help start planning how to pay for them.