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When people think of credit counseling the first thing that comes to mind are commercials to “lower your credit card payments�. This is a disservice to credit counseling services. While many counseling services offer this option, they also can provide individuals with the knowledge needed to make smart financial choices.
Credit counseling is more than a reduction of current payments. It is about learning to make your money work for you. When you attend a real credit counseling session you will learn about budgeting, saving and investing and how to get the most value from the income you earn. These are all important factors in living a financially secure life.
Credit counselors can teach anyone how to live within their means and yet live comfortably. They can teach you how to save for your future without living poorly today. They can also teach you about reducing your debt load and consolidating your bills.
Credit counseling centers can be found in your neighborhood or you can utilize an online service for help. Many charities and churches offer this type of service in an effort to help their community. Non- profit credit counseling services often offer their services at a discounted rate. This enables anyone, at any income level to benefit from these services.
Now, more than ever, with the cost of goods continually on the rise, it is imperative to learn how to control your finances. People need to be able to obtain the most from their wages. Financial security is not a thing that comes with time or patience, it something that must be attained through planning.
Taking control of your finances does not have to be a horrible experience. It can be done easily when you learn the proper way to manage your money. Everyone can benefit from using a credit counseling service at least once in their lives.
Credit counseling should be used for more than condensing your credit cards or refinancing your debt. It should be used to take control of your future.
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Can you stop paying your credit cards if you are dying?
If you die than you won't have to dumbo
What is the best way to improve bad credit reports?
There are no quick fixes to improving bad credit reports. The best thing is to slowly rebuild credit by paying bills on time, paying more than the minimum on credit cards, and avoiding common credit traps.
Will paying off your credit cards raise your credit score?
things that raise your credit score are , having major cards open more than 3 years, and showing good standing with that creditor. you dont have to use a credit card to show good standing. yes paying off high dept will raise your score. and having too much on your cards even if you pay on time will lower it.
Is a line of credit better than credit cards?
Lines of credit tend to have lower interest rates than credit cards.
How does paying by credit card affect your other credit cards?
Generally, paying by credit card does not impact your other credit cards UNLESS you are attempting to get a credit line increase on one of those other credit cards. When you use your credit card, depending on the timing of credit bureau reporting, your credit score may be negatively impacted if you have a balance (whether paid off in full each month or not) that is equal or greater than 30% of the card's credit line. In this case, the score may have been impacted enough where the other credit card company may not grant a credit limit increase.
What is the risk of using a credit card?
risks is when you are not paying on time. make sure you pay your credit cards not lower than your minimum due. it is always better to pay it in full for you also to increase your credit limit.
What are the positives of having a credit card?
Used properly, which means paying off the entire balance IN FULL every month, credit cards can actually help your personal credit rating and credit worthy score. Just keep a couple cards - in fact, if you have too many, that will actually do more harm than good on credit ratings. Also, don't max out the cards - EVER!! Doing that illustrates your lack of ability to control spending, which may put you at risk. Never charge more than you are capable of paying in full when the statement comes due. I do this with the two cards I have, and after a couple years doing that, my credit rating jumped up considerably.
How can one improve a low credit score?
The first thing to do is to find out your credit score. If you have any credit cards, pay them down or pay them off. The less that you owe the better. Minimize the number of credit cards that you have. One or two cards is easier to handle than five. Simple things like paying your utility bills on time will also help to boost your ratings.
What are the risk of using credit?
if you don't know the rules on how to use your credit card then that is the main factor of having a credit risks, in order for you to get a high credit score, when you purchase something on your credit cards you have to pay them in full or not lower than minimum amount due for paying monthly.
How do I optimize paying off several credit cards?
Always pay off the one with the highest interest rate first. If you own a home you can refinance and take out cash to pay off your credit cards. I have no doubt that the interest rate you get on a refinance of your home loan will be lower than your current credit card rates.
Why is it safer to use your credit card online?
I am not sure how to answer your question since it seems to be incomplete. However, credit cards can be used on almost all purchases online. Of course, there are other ways of paying online aside from credit cards. Personally, I use my credit cards for purchases from reputable online stores such as Amazon, airline companies, hotels and others.
Are bank credit cards better or worse than credit union credit cards?
Credit Union credit cards are generally better than bank credit cards as they have a lower interest rate, enforced by federal law. Credit union bankers usually pay $20 for late fees and bank credit card owners can sometimes pay nearly double.
