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In this article, we’ll breakdown some of the key rules of credit cards.
You’ll improve your credit while automatically being rewarded for the purchases you’re already making.
Optimizing your credit is a multistep process.
First, we’ll set up automatic credit card payments so you never miss a payment again.
Then, we’ll see how to cut fees, get better rewards, and take everything you can from the credit card companies.
When To Pay Off Your Credit Card? Pay It On Time
Yeah, we’ve all heard it, but what you may not know is that your debt payment history represents 35 percent of your credit score—the largest chunk. In fact, the single most important thing you can do to improve your credit is to pay your bills on time.
Whether you’re paying the full amount of your credit card bill or risking my wrath by paying just part of it, pay it on time. Too many people get caught using credit card scripts trying to normalize their debt or not paying their debt. Don’t do it!
Lenders like prompt payers, so don’t give your credit card company the opportunity to raise your rates and lower your credit score by being a few days late with your payment.
This is a great example of focusing on what will get you rich, not on what’s sexy. Think about your friends who search every single website to get the best deals on travel or clothes.
They might be thrilled after saving $10—and they can brag to everyone about all the special deals they get—but you’ll quietly save thousands by understanding the invisible importance of credit, paying your bills on time, and having a better credit score.
Today, most people pay their credit card bills online, but if you haven’t set up automatic payment yet, log on to your credit card’s website to do so now.
Note: Don’t worry if you don’t always have enough money in your checking account to pay off the full amount on your credit card. You’ll get a statement from your…
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