How can consumers protect themselves from credit cards being closed by the grantor with no warning?
1. Keeping low to moderate balances is a great help. Trying to
stay at no more than 30-40% of aggregate and individual balance to limits ratios
on credit cards. This is a good way to keep the credit risk alarms from going
off.
2. Making sure all credit cards are active a few months out of the year is a great idea. Consumers don’t have to charge a lot of money in those few months they just need to make a small purchase.
3. For those who have many cards and only carry a few they can put recurring auto pay memberships on the cards they don’t carry like EZ pass, gym memberships, etc.
4. Making sure your credit is excellent and keeping it that way will also insure you look your best for those watching. Those with poor credit should search out an excellent credit repair company and get a free assessment of what can be done.
5. Many credit monitoring products help you daily, weekly, monthly to evaluate your credit standing while watching your balances. This is a great way to stay on track of your credit activity.
6. Only opening new accounts when you have strategically decided it is the right time and the right credit account. Randomly opening credit is never a good thing.
2. Making sure all credit cards are active a few months out of the year is a great idea. Consumers don’t have to charge a lot of money in those few months they just need to make a small purchase.
3. For those who have many cards and only carry a few they can put recurring auto pay memberships on the cards they don’t carry like EZ pass, gym memberships, etc.
4. Making sure your credit is excellent and keeping it that way will also insure you look your best for those watching. Those with poor credit should search out an excellent credit repair company and get a free assessment of what can be done.
5. Many credit monitoring products help you daily, weekly, monthly to evaluate your credit standing while watching your balances. This is a great way to stay on track of your credit activity.
6. Only opening new accounts when you have strategically decided it is the right time and the right credit account. Randomly opening credit is never a good thing.
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