Compare Credit Cards For People With Good Credit
Credit card companies usually issue credit cards to those consumers who are considered a low credit risk to them. This is determined by the card issuers gauging the consumer’s credit history. A FICO score ranges between 300 and 850, the higher the credit score the more favorable the client is looked upon in terms of the client’s credit risk. If you are among those with good or even excellent credit, be sure you get the best rewards for the hard work you put into maintaining your credit profile.
Maintaining Credit Cards For Good Credit
Check your score
First of all, you won’t know where you stand unless you check your score. Only 39 percent of people have obtained a copy of their credit report and 37 percent of American adults admit they do not know their credit score.* So it is crucial to know where you stand in order to realize what actionable steps you need to take.
If you lost your job and have trouble paying your bills, in order to protect your credit record, at least make the minimum monthly payments on all your credit accounts. This will buy you some time to keep all your accounts accurate while you are searching for another job. Contact your creditor if you are unable to meet the minimums. They might be willing to work out a modified payment schedule, temporarily reduce or even suspend your payments until you get another job. However, you won’t know unless you ask. The key is to make creditors aware of your situation and get the help you need to work something out so you can keep your good credit standing.
No bill, no payment!
Just because you didn’t get a bill in the mail does not mean you are free from paying your credit card bill this month. It is your responsibility to keep good credit by making timely payments even if you did not receive a bill. Set up reminders of when your credit card bill is due or keep a calendar of when your credit card bill arrives monthly. Have reminders sent to your email and sign up for online access to your account.
Be careful when shopping around
If you are shopping around for the best credit cards or best credit card deals, lenders will check your credit with the 3 credit bureaus each time you apply for credit. Potential employers also might check your credit. When this happens, your credit report will show an “inquiry”, if many “inquiries” appear on your credit report, this will negatively impact the way lenders view your report. The way to get around this is by restricting credit shopping to a 30-day period. Inquiries done on your credit within 30 days is counted as a search for a single loan instead of multiple loans.