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Credit Plan

Creating a credit plan or plan of action will help you on your road to good credit. There are 3 steps to assess your current standing and determine what you could do in effort to better or build your credit.

Your score can be assessed once a year as you learned in the credit score section. If you’re your score is good great, keep up the good work. Work on ways to prevent your score from slipping by canceling worthless cards and creating a calendar for bill payment dates.
If you score could be better, you should look at ways of building or rebuilding your credit. Any credit card can help at this. Paying your card each month and keeping a low balance are key points.

Spending habits can determine if you really need a credit card. Take a look at the diagram below.

Reality Check
This is the most important question and often one that has no answer. Your ability to handle the responsibility of credit rests solely on you. Take into account the fees, outcomes of poor credit management, and some time to think. Your instinctual answer might not be the one you were hoping for, but its usually the best.

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