Tips On Credit Card Use

Simple Tips on credit card use

When a bankruptcy or proposal is made, credit cards of the debtor are normally surrendered and cancelled. Whether you go bankrupt or make a proposal we will show you, during your counseling sessions, how to obtain a “secured” credit card, to start you on your way to re-establishing your credit.

Keep track of credit card purchases. Write them down, keep a log on the computer of everything purchased using a credit card or review your statements online. This will stop you from going over budget or maxing out your credit limit.

Always know the balance on your credit card(s). Always know the amount of interest you’re paying monthly. When you can only make payments on accumulated interest—you’ve gone over budget. Each payment on a credit card should help pay down the balance.

Most of us do not need more than one credit card. The more cards you have the more likely it is you will continue spending money you don’t have. It’s simple, keep one card and keep it out of sight. The harder it is to get to the card,  the less likely it will be used for inappropriate credit purchases.

Save all credit card purchase receipts to compare to purchases listed on your monthly statements. Be diligent with your credit cards and your credit card companies.

Keep your credit card(s) safe and out of sight of other people. Credit card fraud is common. Be careful, be smart.

For more info on using credit cards wisely get in touch. WBLI has been offering credit counseling services for years.  This tool will help you calculate your credit card debt.

Any information you need or questions you have can be found through our various web based applications. We have Assessment Forms, Confidential Call Back Requests, Debt Calculators and more.