For many of us, our credit cards have been getting a whole lot of action lately. That daily cup of coffee, our grocery run, the pair of shoes we couldn’t resist, gas, and literally everything we buy online…our shiny plastic friend has made spending easy. According to Credit/Debt Management Expert LaToya Irby, “Society is becoming increasingly dependent on using credit to make purchases and decisions.” And yet, when it comes to using a credit card as often as we do so, most of us know very little about our credit.
The credit card universe can be a very confusing place, but whether you are a credit card newbie or you just want to get smarter about how you swipe, it’s crucial to not only understand your credit but also achieve (and maintain) a good credit score. Your credit score can impact everything from the purchase of a home to a loan for a new car or a job application. So when it comes to using a credit card, don’t wait—start implementing some smart spending habits today by following these credit card tips. Your wallet will thank you.
1. Know your credit report.
Just because you’ve been ignoring your credit score all these years (or you’re fairly new to the credit card game) does not mean your file is completely blank. Your credit report includes a lot of information beyond your score—everything from your address to your employer can be found in this report. One of the best credit card tips we can give you is to get familiar with the document and check to make sure everything looks accurate. Federal law mandates that you get one free credit report a year, so take advantage!
Read Related: Using Your Credit Card To Build Your Credit