On Friday I started a new series, called money tips. For the next few Monday’s you can expect some short money tips right here on my blog as well as my social media channels. If you have any financial question, make sure you ask away! Who knows, maybe your question will become a topic for a Money Tip Monday.
Today’s money tip is about credit cards.
Most credit cards have a limit on them. Meaning you can only spend up to a certain amount. However, did you know that in order to maintain a good credit score, or develop a good score, you should avoid a balance of more than 50% on your card. Another good tip, rule of thumb, is to pay more than the minimum payment due each month. This will help you pay your balance off faster.
Michigan First offers the Experience Rewards Credit Card, learn more about it at MichiganFirst.com.
Is there something you want to know more about? Comment in the section below and I’ll work with the experts at Michigan First Credit Union to get your questions answered!
Keeping it Fresh, Young & Free,