10050 Crosstown Cir.
Suite 300
Eden Prairie, MN 55344
1-800-767-7895
952-944-7575
NMLS# 954098
In today’s economic climate, it’s nearly impossible to do much without a good credit score. But if you are just starting out your credit journey or have just gotten out of a bad credit situation such as bankruptcy or debt collection, you’ll need to build your credit score. Credit Cards have become the easiest way to build, improve, and maintain your credit score when they are used properly.
The easiest way to ensure that you use your credit card well and build your credit score is to make payments on time or early. A late payment can affect your credit score and stay on your credit report for several years. The easiest way to keep up with this is to set up automatic payments through your credit card portal or set up bill pay. You don’t have to wait until your due date to pay your credit card bill or only make one payment a month. If it’s easier to pay your card weekly - that’s great! Do what works for you.
While it’s best practice to pay off your credit cards completely each month, sometimes circumstances or unexpected expenses prevent you from being able to do so. If you aren’t able to pay off your card each month, it’s wise to pay more than the minimum. Even if it is just an extra $10, you are saving yourself money on interest in the long run. If you find yourself with a little extra cash on any given month, put a portion of it toward your credit card debt.
Another easy way to build your credit is to use your credit card to pay your everyday bills such as utilities, internet, and cell phones, or to buy groceries and gas. This is also a great way to better track your spending. You can see clearly how much money is coming out of your account and how much you are spending. You can also make payments immediately after charging to your credit card or every week to keep up with your expenses. There’s no limit to how often you can pay down your credit card.
Every card offers perks that can benefit you, from cash back to travel miles to travel insurance. With credit card rewards, you can save money on everyday expenses so that you have more cash to help you stay out of debt. Research your credit card to see what benefits they offer and take advantage of them when you can!
At Viking Client Services, we want to see you succeed. If you ever find yourself in collections, we want to treat you with the dignity you deserve and work with you to find a plan that helps you get out of debt and reach your financial goals. Learn more about our values and how they guide us in the debt collection process.