Columbia SC first time buyers credit card dos and don’ts

Many of the first time home buyers in Columbia SC that I come in contact with indicate that their credit is not that good.

Having a good credit score is important; it can not only help you buy a home but it can also open many other doors. For example employers may request credit reports on job applications. Having a good credit score says alot about a person. Employers may view it as being responsible or reliable.

When applying for a credit card everyone should always:

Shop around for the best credit card deal and Rates.

Always read the fine print and be conscience of promotional periods that may end without notice.

Ask questions, Understanding is the key to success.

Be wary of anyone who claims they can “fix” your credit. It takes time and consistent payment history to repair your credit.

Review your statement carefully; check for unauthorized charges and changes in bank rules and policies.

Be careful with your credit card. Keep your bank’s contact information and your credit card number on hand in a safe place in case it’s lost or stolen.

View credit as an investment in your future. With a  good credit history you can do so much like “buy a house, get a job, buy a car”.

Get a copy of your credit report annually know what is on your credit.

Do Not

Apply for a credit card if you don’t want one.

Do not pay your bills late. Late payments hurt your credit rating.

Do not buy things you can’t afford. Remember a credit card is a loan with an obligation to repay.

Do not apply for additional credit cards if you are carrying balances on other cards.

Never ignore the signs of trouble. If you can only pay the minimum, pay late, or use cash advances for living expenses, you’re living in the credit “danger zone.”

Never give out your credit card number unless you have initiated the transaction.

“Do not let bad debt follow you for life, get help now.”