Take Charge: Use Your Credit To Help Your Credit Scores

July 03, 2011

Spending money you don’t have has always been a questionable decision at best. Now more than ever, Americans are feeling the effects of the charge-now, pay-later mentality. However, this turn of events has led many people to become financial hermits. As a recent post on the FreeScore blog explains, this new culture shift may actually be doing more harm than good.

In “Did You Know Spending Wisely Could Help Your Credit Scores?,” the experts at Freescore show how a little responsible spending can go a long way towards helping the nation’s economy. In fact, an article on USAToday.com reveals that 70 percent of the economy depends on consumer spending. However, the current ratio of non-mortgage consumer debt to disposable income is at 20.7 percent (a 15-year low.)

With higher gas prices, lower home prices and a myriad of other factors, Americans are spending much less than in years past. A common trend is to use your credit card sparingly. However, charging items to your credit card and making the required minimum payment each month isn’t necessarily a bad thing (even if you have a small or moderate balance). Moderation comes into play when deciding if you can make the minimum monthly payments on time. If you can, then you’ll be doing your credit scores (and yourself) a favor.

To learn more about your 3 credit scores, visit FreeScore.com. There, you’ll receive your scores and other key information from the 3 major credit bureaus – Equifax, Experian and TransUnion. By taking advantage of the Power of 3, you’ll receive monthly updates to your credit profile, 24/7 credit monitoring, and automatic alerts of any sudden changes to your credit. With this knowledge, you can spend wisely and help the economy – not to mention your own bottom line.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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