Tackling the Rebuilding Credit Struggle: 5 Ideas to Get Your Credit Back On Track

Credit cards, we all have them. Or at least most of us do. And sometimes they can get the best of us, whether that be spending too much or stacking expenses across more than one card. Whatever your situation, there are ways to gain back your credit confidence.

Here are 5 ideas that Blaze Mastercard has to help rebuild your credit:

  1. Making on time payments. By making your payments on time, you are showing the lender that you are a trustworthy customer. Have a hard time remembering your payment due date? Consider setting up auto-pay. This typically free feature is a great way to make sure your card account is being paid on-time every time.
  2. Spending within your means. Stretching your dollars will pay off when you spend based on what your income allows. Of course, this is easier said than done. Life happens and we never know if an unexpected emergency or financial need will pop-up. Saving a little extra from each paycheck or following a budget plan will help better prepare you for what the future holds.  
  3. Using the budgeting tools that are available to you and are FREE! Budget tools, expense reports — they can seem like a lot of work. But they will be a huge help in your credit rebuilding success. By budgeting, you are “telling” your money where to go. This can offer a better sense of where your dollars are being distributed. Assess your ‘needs’ vs. ‘wants’. There are several free online worksheets where you can jot down monthly expenses and organize them in a ‘needs’ column and a ‘wants’ column. This will help you create a solid monthly budget and take control of overspending.   
  4. Researching your options. It is easy to sign up for that card with the $10,000 credit limit. Say no!  Don’t sign up for a card with a limit that you may not be able to handle. Credit cards are not a bad thing. Making your payments on-time and better yet… paying your monthly balance off in full is key! Research cards’ fees, rates, rewards programs and those that have limits you can budget for and afford. And never sign up for a card that promises you a line of credit and takes a large portion of it back in fees.
  5. Reducing your debt. Take that extra step and pay down debt. If you have had one loan longer than another, start there and work your way to the most recent. Ever heard of the snowball method? This means paying off smaller credit amounts in your credit card debt, regardless of the interest rates involved. This will report positively to most credit bureaus. Another method, stacking, refers to making the minimum payment on any of your loans, then putting extra money towards your highest interest credit card. This is the opposite of the snowballing method but still just as effective. Get rid of the weight on your shoulders from old loans.

If you are working on rebuilding your credit, take a look at the Blaze Credit Card. Blaze gives folks a way to rebuild credit while offering them a great product at the same time! Enjoy a partner that rewards your responsible payment history and good-standing account with Credit Line Increase opportunities. Use your Blaze Card everywhere Mastercard credit cards are accepted. No security deposit is required! And know, Blaze reports your payment history to the major credit bureaus and works alongside you to help improve your credit wellness!

This is a sponsored post. This content was created and paid for by Blaze Mastercard.

 

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