Tips to Manage Your Credit Card from Our Local Federal Credit Union PT 1

On a scale of 1 – 10, how well do you manage your credit card? With all the mixed information online about credit cards, finding sustainable ways to manage your expenses can be challenging.

Our local federal credit does not only provide affordable lending for VFCU members, but we want to see our community thrive. Read our two-part series on tips to manage your credit card use today.

Review Your Credit Report

Doing so can dispute any errors you find, in which you should take the time to review your credit score avidly and get the right fixes. Receive a FREE credit score check when you download our Mobile Banking App today!

Set Up Payment Reminders

Consistently paying your credit card on time can raise your credit score within a few months. Write down your payment deadlines for each bill in a:

● Calendar

● Planner

● Notebook

● Electronic planner

Pay More Than Once

If you can afford it, try to pay off your credit card bill every two weeks rather than once a month. This can lower your credit utilization and improve your score.

Apply for New Credit Sparingly

Although it can increase your credit limit, it can hurt your score if you apply for several new accounts quickly. Apply online wisely and hassle-free!

Don’t Close Unused Credit Card Accounts

The age of your credit history matters, and a more extended history is better. If you choose to close certain credit accounts, you should close the newer ones to avoid further debt.

Pay down “Maxed Out” Cards First

If you have multiple credit cards, the amount owed on one or more is close to the credit limit, pay that one off first to bring down your credit utilization rate.

Consider a Debt Consolidation Loan in Harlingen

If you apply for a debt consolidation loan, you could temporarily drop your credit score, but you might need to make extended on-time payments to improve or lower your debt quickly.

Tips to Manage Your Credit Card and Finance with VFCU

Improving your credit can go a long way, no matter how good your credit is. However, there are plenty of opportunities for improvement. Contact our local federal credit union today to ask about our member benefits and to apply for financing as you need.