Avoiding College Credit Card Traps

Written by James Dimmitt

Continued from page 1

2) NEVER use your credit card for a cash advance. The fees and repayment structure associated with a cash advance are outrageous.

3) Have a budget! Your credit card is not free money. Budget your money so that you can pay off your balance atrepparttar end of each month. If you can’t pay offrepparttar 150141 balance, always make more than justrepparttar 150142 minimum payment.

4) Pay your bills on time, otherwise you’ll pay a late fee between $25-40 every time your late with a payment. Late payments will also increase your chances of having your percentage rate raised on ALL your credit accounts.

5) Request a low credit limit somewhere between $700-$1,500. The object is to have credit available to meet some of your expenses and in case of an emergency.

6) Less is better. You don’t need more than one or two cards atrepparttar 150143 most. The more you haverepparttar 150144 more tempted you’ll be to use them or to “max” them out.

7) Consider using a debit card instead. A debit card is linked to your checking account and purchases are automatically deducted from your account balance. Of course, make sure you have money in your account to cover any purchases you make.

Using a credit card is a big responsibility whether you’re a college student or an adult. Managing your credit wisely establishes a positive credit history which will serve you now and well intorepparttar 150145 future.

Copyright 2005, http://www.yourfreecreditreportnow.com

James is editor of "TO YOUR CREDIT", a free weekly newsletter with tips to help you manage your personal finances. Subscribe today and receive his e-book “IDENTITY THEFT- How To Avoid Becoming the Next Victim!” and other bonuses by visiting http://www.yourfreecreditreportnow.com

Debt Reduction Solutions

Written by Mark Lambie

Continued from page 1

4. If you do not owe a home, orrepparttar home you do own has negligible equity built up then you cannot get equity from your home. Still, depending on your income, you may be eligible for mortgage refinancing below market rates. Check with your bank or local housing authority to see if you qualify for a low or moderate income loan. The savings you realize through reduced mortgage payments may help you pay down your debt.

Finding debt reduction solutions that work for you is an important first step in eliminating debt. Make a plan and stick with it and you will soon be living a debt free/care free life.

Mark Lambie is the founder of Fast Debt Settlement We provide a free service that matches you with debt consolidation specialists

    <Back to Page 1
ImproveHomeLife.com © 2005
Terms of Use