As joyous and as festive as the holiday season is, it is also a dangerous time of year for two groups of people. The first group consists of people who have good or average credit but who slip into debt due to the gift buying that is a part of the holidays. The second group is made up of people with poor credit who know they cannot afford to indulge in gift buying and other holiday traditions, but who do not wish to be left out. For the latter group especially, there are steps that can be taken to secure and repair credit this time of year:
- Check your credit score: This may be difficult or even painful but you have to start somewhere. In checking your score you can also set a target on how much you need to improve.
- Assess your overall financial situation: Evaluate your credit card portfolio then make a list of all your debts and set realistic financial goals. You should look at your entire financial situation and perhaps even start a budget if necessary to control spending.
- Select a payment strategy that works for you: Consider paying down on credit cards with high interest rates. Also, figure out how much you can afford to pay your creditors per month. This is when credit repair services such as National Credit Fixers may be particularly useful.
- Write Dispute Letters to the Credit Bureaus: Never assume everything that is contained in your credit report is accurate or timely. Send all your correspondence to the agencies through registered or certified mail. National Credit Fixers can go over your credit report with you and will show you how to fix bad credit by contacting these agencies for you and keeping record of those contacts.
- Limit yourself to a cash budget: Stop using your credit card as often. It may even help you to reduce spending when you can see actual cash leaving your wallet as opposed to swiping that little plastic card.
- Use Holiday bonuses wisely: Instead of frivolously spending your bonus use it instead to pay down on one of your cards.
- Secure your credit: Report your lost or stolen cards immediately. Most fraudulent credit card use takes place within days of your cards being lost or stolen.
- Always check your monthly statement: Make sure the charges are yours. Report suspicious entries to your card company.
It is very difficult for most of us to remain thrifty when ads show people all around us celebrating the excesses of the season. Buy this! Shop here! Forget the cost. This is a particularly unwise policy for those with problem credit. Follow the above tips and consult with National Credit Fixers and you will be well on your way to enjoying the holiday season knowing that your finances can and will improve.