Credit Do's and Don'ts

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Credit is a powerful tool that can shape financial futures. However, navigating your credit score comes with its own set of rules. Understanding the do’s and don’ts of credit is crucial in leveraging its benefits while avoiding potential setbacks.


  1. Make payments on time every month. Read your credit card statements to ensure there aren’t any unauthorized charges.

  2. Pay at least the minimum due but try to actively pay above the minimum due to help reduce debt and improve your credit score.

  3. Keep your credit utilization low and aim to use only a portion of your available credit.

  4. Contact the credit card company if you are unable to make your payments. They may be able to set up a payment plan that could be easier to keep up with.

  5. Monitor your credit report annually for errors or discrepancies.


  1. Miss payments or pay your bills late, this could significantly damage your credit score and would be charged late fees.

  2. Spend more than you can afford and max out credit cards. High credit utilization can negatively affect your credit score.

  3. Apply for too many accounts if you have balances on others. Multiple credit inquiries in a short period can lower your score.

  4. Close old accounts which will reduce your credit history and impact your score. Having a longer credit history will improve your score and shows lenders that you have experience managing credit.

  5. Move debt around and transfer balances from multiple cards onto one. This will increase your credit utilization on that card and lower your credit score.

Paying attention to the do’s and don’ts of credit helps pave the way for a stable financial future. Watch our latest virtual credit session to learn more about maintaining a good credit score.

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