Refresh Your Credit in the New Year

Hands are shown holding a card and paying bills

Credit cards, car loans, home loans and other debt all have their place. Go over your debts and look at exactly how much you owe and your schedule payment. What are your interest rates? How long will it take you to repay the full amount? Which debts are a priority for quick repayment?

Take an hour or two to review your credit card and other debt. List the amounts owed, minimum payments, interest rates, and any other information you may need. It’ll give you a handle on exactly what your financial situation is and help manage your debts.

Give your credit its annual review by ordering your free annual report from Annualcreditreport.com. Check your score and read through the report carefully to see if there are any suspicious charges, unfamiliar accounts or mistakes of any kind. If you find an error, be sure to dispute it and follow up on the mistake. You’ll want to close any inactive accounts as well, as they can drag down your credit file.

One way to reduce your credit card balance is to transfer your balance to a card with low promotional interest rate and take advantage of the promotional period to pay down the card. TwinStar is offering a low 12-month introductory rate with a balance transfer to our Visa® Platinum card and a low rate after the introductory rate ends. To learn more, check out our Visa® Balance Transfer offer: https://www.twinstarcu.com/visa-promo