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Your holiday to-do list is probably pretty long, with all the decorating, shopping, wrapping and gathering. If you want to keep your credit sparkling like the holiday lights into the new year, you may want to think about adding some don’ts to your list as well.
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DON’T open new credit accounts. A 10% savings at checkout is tempting, but that extra credit card could lower your credit score.
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DON’T run up your credit card balances. In addition to knocking points off your credit score, higher balances can make meeting your minimum payment requirements more difficult.
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DON’T put off paying bills. With so much going on, it’s easy to forget a due date. Those late payments are another factor that can lower your score, plus you will likely pay penalties. You may want to preschedule online payments so no due dates are missed.
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DON’T miss out on your annual free credit report check. Go to AnnualCreditReport.com, where you can get free access to your credit reports from the three major credit reporting agencies once every 12 months. No time during the holidays? Take a moment to set a calendar reminder for January.
Now that we've covered the “don’ts,” here are a few holiday “do’s” for you too:
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Do have fun.
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Do be merry.
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Do enjoy this time of year.
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Do reach out if Greenway Mortgage can be of service to you.
We hope you have a wonderful holiday season!
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