Tips to Make the Most of Your Credit Card
Here are tips for making the most of your credit, while building healthy finances.
Get to Know – And Grow – Your Credit Score
Credit scores are an indicator of how well you manage and pay back debt, which can include credit cards, lines of credit, car and mortgage loans as well as bill payments. Most often, though, your credit score is largely based on credit card usage. Without a credit score, it’s difficult to get other loans, such as a mortgage, so using a credit card and paying it on time each month can help you meet your financial and personal goals.
Scores are usually between 400 and 900, with above 600 being average and higher than 750 being “excellent.” The score is a snapshot of a certain period of time, so if your score is low, you can turn things around. A quick way to up it is to pay down your credit cards, aiming ideally for less than 30% of the total credit available. It’s important to always make your payments on time, too. With the President’s Choice Financial® Mastercard® you can make payments easily and swiftly through telephone and online banking, which is processed same-day.
Manage Your Card Wisely
Most dings to a credit score result from mismanaged accounts, which is why it’s good to be keenly aware of your credit limit, annual fees, interest rates and bill payment schedules. Raising your credit score can be as simple as keeping your credit below the limit and paying more than the minimum amount on time. With automatic bill payments, e-alert options and 24/7 access to your account through a secure online site, having the PC Financial® Mastercard on your side makes this a snap.
Get Ahead of the Game
Creating a monthly budget and setting calendar alerts makes paying your credit bills no-fuss. Budgeting for fixed expenses and the extras can help avoid a credit statement surprise. It’s also a bonus if you can maximize the rewards your card offers. With the no annual fee PC® Mastercard (opens in a new window)® you earn 10 PC Optimum points for every dollar spent, which you can put towards groceries, fashions, home décor and more at participating stores where President’s Choice® products are sold!
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General information not about PC Financial products is provided for your reference and interest only. The above content is intended only to provide a summary and general overview on matters of interest and is not a substitute for, and should not be construed as the advice of an experienced professional. The PC Financial® team does not guarantee the currency, accuracy, applicability or completeness of this content.
