Specialized Consumer Strategies works with individuals who have poor credit score and are in debt. They offer strategy options that clients can choose to pursue to apply for smaller interest rates, work of their debt, and increase their credit scores. Clients can also ask for a budget plan that helps them live within their income.
Specialized Consumer Strategies focuses on not only providing their clients with options but also educating them so that they can make better decisions in the future. They put on emphasis on how to properly utilize credit cards. Here are three ways credit cards should not be used.
Credit cards should not be used to receive store discounts. Often, stores offer one-time discounts open opening a new line of credit. In the short term those discounts seem beneficial, however, store credit cards have negative impacts on credit scores and will be harmful in the future.
Credit cards should not be used to finance personal wants. When credit cards are used in this manner, the balances on the cards are often ignored or reach a point where payments fall behind. This is dangerous because payments need to be made, otherwise the credit supplier will eventually report that individual to the credit bureau.
Credit cards should not be used as a substitute to close old accounts. It is good to keep old accounts open because they show a history of credit card use and payments, which looks good on credit reports. The length of a person’s credit history makes up 15% of their overall score according to FICO.
Specialized Consumer Strategies focuses on not only providing their clients with options but also educating them so that they can make better decisions in the future. They put on emphasis on how to properly utilize credit cards. Here are three ways credit cards should not be used.
Credit cards should not be used to receive store discounts. Often, stores offer one-time discounts open opening a new line of credit. In the short term those discounts seem beneficial, however, store credit cards have negative impacts on credit scores and will be harmful in the future.
Credit cards should not be used to finance personal wants. When credit cards are used in this manner, the balances on the cards are often ignored or reach a point where payments fall behind. This is dangerous because payments need to be made, otherwise the credit supplier will eventually report that individual to the credit bureau.
Credit cards should not be used as a substitute to close old accounts. It is good to keep old accounts open because they show a history of credit card use and payments, which looks good on credit reports. The length of a person’s credit history makes up 15% of their overall score according to FICO.
