Are you taking advantage of Internet Banking to maximize your credit score, and even repair your credit, if needed?
Sounds crazy? Not really...
The main reason for low credit scores and credit troubles is due to the fact that people commit to borrow when they think it's affordable and then fall for the traps of the marketers. "Don't pay for six months, only do minimum payments, take advantage of the initial low rates", plus many more "amazing ideas"!!! Then, things fall behind...
If you commit to a debt, set it up on consistent payments. On your payday, set up small payment amounts to be applied towards those debts.
You can also set them up for minimum payments to be applied towards your credit cards. This way, regardless of whether or not you make larger payments towards them, the minimum is being paid, and you don't get flagged for arrears!
Use the same idea to set up a small savings plan. Even if you can only afford a small amount every couple of weeks, it builds up! It's okay to commit to only $20 or $30 into a savings plan if that's all you can afford!
Nowadays, everything is driven by credit rating. The higher your credit score, the easier and cheaper it is to get qualified for car loans, mortgages, lines of credit. Even on some jobs, they do a credit check on you as a condition for employment.
If you are already expecting a certain amount of money every payday, and set up these withdrawal amounts to occur on that same day, you will get used to it and won't even notice the payments being made.
You're already paying a monthly fee on your bank account that gives you access to Internet banking - take advantage of it!
Don't believe it? Give it a try! Share with a friend!
Do you have questions or want to discuss some ideas? Give me a call ! Thank you!