Posts Tagged ‘ manage credit cards ’

SENIORS REVIEW CREDIT ISSUES

Mar 29th, 2013 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Seniors’ Credit Report Several Internet articles recently dealt with the need for seniors to think about one’s credit report/rating. Some of the suggestions apply more specifically to seniors. Many of us are not worried about our credit report. It’s been in place a long time and our ratings probably haven’t changed much. With a long [...]



An Important Message for Seniors: Use Credit Cards Sparingly

Apr 22nd, 2011 | By Dr Jerry D Elrod | Category: Senior Moments Blog

If you are one of those, and who isn’t these days, who has several credit cards in your wallet, be sure you are prudent in your use of them. If possible, cancel all those you have except the two best ones–that is the two with the best interest rates. Cut up the rest and throw them away, notifying the company you no longer use them and wish to have your account canceled. Under no circumstances, do not open accounts with new offers which come your way. No matter the freebies offered, tear up the invitation and do not reconsider.

Pay off your balances at the time the credit card bills arrive. If you can’t, this may be the first sign of trouble; you are spending too much money if you consistently cannot pay the balance on your account(s). If you choose to pay some amount on each, at least do that until they are brought to a zero balance. Check your account monthly. Be sure all the charges are yours