Tips on Using Credit Wisely
- Compare Rates
- Do not use credit to buy necessary living expenses
- Do not borrow money to pay off a debt and then incur more debt.
Look for the best deals by shopping for credit just as you would bargain shop for anything else.
Compare interest rates and total finance charges before making a loan or purchase.
Before signing an agreement make sure to you read it completely, including the fine print.
Don’t borrow money to pay necessary living expenses such as food, utilities, or gas.
They will be gone before the payments, and you will need to replace these items as they are used.
Do not buy anything on credit that does not have a value that will outlast the monthly installment payments.
Do not borrow money to pay off debts and then continue to use the same accounts to charge new debt.
This is a complicated area of law and an attorney should be consulted on all matters relating to bankruptcy. The information on this website is provided with the understanding that the authors and publishers are not herein engaged in rendering bankruptcy, legal, insolvency, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional bankruptcy, insolvency, tax, legal or other competent advisors. While we have made every attempt to ensure that the information contained in this website has been obtained from reliable sources, Credit Advisors Foundation and Arbor Investment are not responsible for any errors or omissions, or for the results obtained from the use of this information.