Things that are credit score safe

When you are looking to get a handle on your credit score, you need financial alternatives that will help.

18:14 30 January 2014

Getting a handle on your credit score means finding ways to help your credit looking sharp, there are a few things you can do that will not hurt your credit score. 

 

• Using Debit cards – Debit cards offer a variety of conveniences, many of which are shared with credit cards. They offer the ability to make online payments, shop online, shop without having to carry cash in your pocket, and they offer fraud protection. These will not help if you are looking to improve your credit score but they are a way to limit your spending since they are usually linked directly to an account. 

 

• Getting a pay cut – Some people believe that the amount of money you earn has an effect on your credit score. It does not provided that you can afford to meet your bills even with the drop in income. It can affect your debt to income ratio however, which can affect your credit score if you are looking at obtaining credit or a loan, such as a mortgage. 

 

• Not using any credit – Taking yourself off credit for a month, two months, or even more, will not hurt your credit, if fact it might help by allowing you to pay down balances without adding to them. If you are planning to go a long time without using your credit, make sure that you keep an eye on your accounts. You want to make sure they do not go dormant or are closed because this will decrease your debit to income ratio and may end up having a great impact on your overall credit. 

 

These steps can help you deal with your debit without negatively impacting your credit score.