In today’s day and age, it is really not that hard to get a credit card. Unfortunately, this has become a burden to many families that have continued to rack up debt over the years. I am personally terrified of going into thousands of dollars worth of debt, especially for consumer goods. However, there is a good and bad way to use credit. The good news is that if you already have a poor credit score or no credit score at all, there are ways that you can improve it. In this article, I am going to be going over some of the ways that you can do this.
For most people, the reason why they have a poor credit score is that they let themselves go into debt in the first place. For whatever reason, they either missed a payment or couldn’t make the payment when it was due. For some families, this happens month after month. The first step is to pay off all remaining debt. If you have very large debts on credit worth thousands and thousands of dollars, I would recommend using the debt avalanche method. This method is where you pay off the debt with the highest interest rate first. This way, you will pay less over time. If you have smaller debts, I would recommend the debt snowball. It will give you confidence over time. When you are going this, you are living like a college student and minimizing all expenses so that you can tackle this debt.
- Only put things on credit that you can afford
If you can’t pay the bill with cash, you probably shouldn’t be buying it. For beginners, I would recommend only putting minor expenses on credit card that are easy to pay off like gas and grocery bills.
If you are looking for great loans, I would definitely look into GreenSky Credit. GreenSky Credit has loaned over $1 billion which makes them very credible. GreenSky Credit also has 1.6 million satisfied customers nationwide. Finally, GreenSky Credit has 12,000 active merchants ready to help you. In the end, GreenSky Credit is the company to go with!