Specialized Consumer Strategies - Three tips for Managing Credit Cards

Specialized Consumer Strategies is a financial solutions firm that works with clients to help them work off debt, improve their credit scores, and negotiate smaller interest rates. Many of their clients are able to make their monthly minimum payments but are not necessarily in control of their finances. Specialized Consumer Strategies provides strategies and budget plans that help their clients reverse course and regain control of their finances.

One of the many ways to improve credit scores and work out of debt is to make consistent credit card payments. Here are three tips for managing credit cards.

• First and foremost, individuals need to be proactive about their credit card security. Most of the major credit card providers are producing chip cards that are designed to increase card security and prevent fraudulent activity. Individuals should also be mindful of leaving their bank apps open and throwing statements in the trash.
• Credit card holders should pull their credit report every year. Government regulations dictate that every person is entitled to one free report from each credit bureau per year. This means that people can receive all three reports at once or spread out the reports throughout the year.
•  It is important to pay off credit card balances and make real progress in eliminating credit debt.  Prioritize credit car payments so that the debt is slowly chipped away. Once the debt is paid off, curb credit card use habits to avoid returning into credit card debt.

Specialized Consumer Strategies was established eight years ago in response to banks increasing their interest rate charges.

Specialized Consumer Strategies - Three Reasons Why Credit Scores Are Important

Specialized Consumer Strategies is a financial solutions firm that helps individuals with debt and poor credit, regain control of their finances. They create budget plans and financial strategies that allow their clients to slowly regain control of their finances.

Specialized Consumer Strategies looks at their clients' credit reports as a key indicator to the state of their finances. Credit Reports are essentially a historical record of a person's finances and can teach a firm such as Specialized Consumer Strategies, a lot about a person's finances. Having a good credit score is increasingly important. Here are three reasons why.

• Credit scores determine the cost of future large purchases. Having a poor credit score will lead lenders and bankers to offer high interest rates for car loans or when purchasing a home for example. This makes large purchases in the future difficult to complete and difficult to pay off. Having a good credit score makes it easier to make these large purchases in the future.
  
• It is very difficult to improve a poor credit score, which is why it is important to maintain a good score. Not paying a bill and going into collections can have a huge impact on a person's credit score, even if it only happens once. Making one mistake can affect a credit score, and it usually takes an extended period of time to get it back up.
  
• A bad credit score follows a person everywhere the go, even once they’ve gotten it back up to a respectable number. Credit reports go far back and show when a person had poor credit. This can be a hindrance at times.