Stage 1 - The Starting Out Years

Tip 5. Commit to Good Credit Habits.

There is no excuse for a late credit card payment, but there is a great deal of cost.

The new credit card legislation gives you a longer period between the time you receive the bill and when it is due. Use an online budget reminder system – one example is Mint.com – to make sure you pay the bill several days before it is due. It goes without saying you should pay the balances in full, if you can, but if not make sure you are paying something over the minimum required payment on your highest interest rate cards first. IF you are only managing minimum payments, then STOP using your credit cards altogether as well as curtailing cash spending so that you can increase monthly payments.

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