How To Make Credit Work For You

Credit is a powerful tool that can either help or hurt your personal finances. When used responsibly, credit can help you achieve financial goals and improve your credit score. However, if misused, credit can lead to debt, high-interest rates, and financial stress. In this article, we will provide some personal finance advice on how to make credit work for you.

Understand Your Credit Score

Your credit score is a numerical representation of your creditworthiness, and it plays a significant role in your ability to obtain credit. A good credit score can help you qualify for lower interest rates and better credit terms, while a poor credit score can make it difficult to obtain credit or result in higher interest rates.

To make credit work for you, you must first understand your credit score. You can obtain a free credit report from each of the three major credit bureaus annually. Reviewing your credit report regularly can help you identify errors and take steps to improve your credit score.

Make Payments on Time

One of the most important factors that determine your credit score is your payment history. Payment history makes up 35% of your credit score, making it the most significant factor in determining your creditworthiness. Therefore, it is essential to make payments on time, every time.

Late payments can remain on your credit report for up to seven years and can significantly impact your credit score. To ensure you make payments on time, set up automatic payments or reminders. This can help you avoid late payments and improve your credit score.

Avoid High Credit Card Balances

Another factor that impacts your credit score is your credit utilization ratio. Credit utilization is the amount of credit you are using compared to your credit limit. High credit card balances can indicate that you are relying too heavily on credit which may be a sign of financial stress.

To make credit work for you, it is important to avoid high credit card balances. Ideally, you should aim to keep your credit utilization ratio below 30%. If you have high balances, consider paying them down as soon as possible. This can help improve your credit score and reduce your overall debt.

Only Apply for Credit When Necessary

When you apply for credit, lenders will perform a hard inquiry on your credit report. Hard inquiries can temporarily lower your credit score and may remain on your credit report for up to two years. Therefore, it is important to only apply for credit when necessary.

Before applying for credit, consider whether you really need it. If you are unsure, it may be helpful to speak with a financial advisor or credit counselor. They can provide personal finance advice and help you determine whether applying for credit is the best option for your financial situation.

Monitor Your Credit Report

Monitoring your credit report regularly is essential to making credit work for you. Reviewing your credit report can help you identify errors, fraudulent activity, and other issues that may impact your credit score. By monitoring your credit report, you can take steps to improve your credit score and protect yourself from identity theft and other forms of fraud.

If you’re struggling with your credit score, don’t hesitate to reach out for professional help. At Key Credit Repair, we specialize in helping individuals improve their credit scores and achieve financial success. Visit our website, keycreditrepair.com, to learn more about our services and how we can assist you in making credit work for you. With our expert guidance and support, you can take control of your credit and achieve your financial goals.

Top 5 Strategies To Get Rid Of Debt

Debt is a burden that besieges personal finances until it’s fully cleared and gone. If you’re struggling with debt, whether it’s only a few dollars or has many zeros, these top five strategies can help you get rid of your outstanding balances.

The Avalanche Method

The avalanche method tallies all your debts, listing them from highest interest rate to lowest. The outstanding balances are then paid off from the highest interest rate to the lowest. Minimum payments are made on every loan and other debt, and any extra available funds are put toward the highest-interest loan.

The avalanche method is so named because it proceeds much like an avalanche. The method is slow to begin, but it gains a lot of power by the time you’re working on lower-interest debts.

Of all the debt elimination strategies, the avalanche is the most math-oriented. You avoid excess fees by making minimum payments on everything. Interest paid is minimized as much as possible, because you pay off the highest-interest debts first.

The Snowball Method

The snowball method likewise tallies all of your debts, but it lists them and pays them off in a different order than the avalanche method does.

If using the snowball method, you list debts in order of smallest to largest balance — irrespective of what their interest rates are. Minimum payments are still made on all debts, and any extra funds are put toward the smallest outstanding balance.

Proponents of the snowball method readily admit that it mathematically results in a less efficient approach to paying off interest. Instead, the method focuses on the emotional side of debt elimination, helping you gain momentum as you see progress made quickly. By the time you’re ready to focus on the largest debt, you’ll have completed many successfully paid-off loans.

The Savings Quick-Fix

If you have any savings built up, immediately paying debt off with the funds can be tempting. It also can make sense if you have high-interest debt and a large sum saved up.

Before using savings to pay off debt, however, there are a couple of cautions:

  • Tax-advantaged accounts (i.e., IRAs, Roth IRAs, 401(k)s, 529s, HSAs, etc.) should only be used in extreme cases, such as foreclosure and bankruptcy. Pulling funds out of these has severe tax implications.
  • Cash savings shouldn’t be depleted to an unsafe level. This level depends on your bills and living situation, but you should still be able to handle the unexpected financial emergency.

If you meet these criteria, feel free to pay off debt with savings.

Bankruptcy

Bankruptcy is sometimes considered a magic bullet that gets you out of debt. It should only be a last resort, however. Declaring bankruptcy will leave a black mark on your credit history for years, making getting a home mortgage, business loan, or other funding difficult. Not all debts are eliminated in bankruptcy, either. Notably, federally guaranteed student loans follow you through bankruptcy.

Credit Settlement

Credit settlement allows another party to negotiate debt pay-offs on your behalf. Minimum payments are suspended, and you pay the settlement agency an agreed-upon monthly payment. The agency then uses these funds to negotiate debt pay-offs for less than is owed.

For help with credit counseling that’s needed after debt problems, contact us at Key Credit Repair.

Top 4 Ways To Financial Freedom In 2023


Do you dream of financial freedom? Of being able to live your life without worrying about money? Well, that dream can become a reality if you start planning now! In this blog, we’ll explore 4 ways to achieve financial freedom in 2023.

By making smart decisions, creating a budget, and investing in yourself, you can create a secure financial future and be free of money worries. We’ll look at how you can use these strategies to get on the path to financial freedom and live the life you’ve always wanted. Get ready to take control of your finances and achieve financial freedom in 2023!

Start Saving, ASAP

It may seem like an obvious thing, yet a lot of people spend like there’s no tomorrow and forget about saving. It’s the most important step to achieving financial freedom in 2023.

It is important to start small by setting aside a few dollars each month and gradually increasing your savings over time. Additionally, it is important to create a budget and stick to it. This will help you track your spending and identify areas where you can make changes to save more money.

Finally, don’t forget to invest in yourself. Investing in yourself can include taking classes to increase your knowledge base and make yourself more marketable or creating a side hustle to bring in additional income.

You can create a secure financial future by taking a holistic approach to your finances. Investing in yourself and your future can help you create a plan that will help you achieve financial freedom in 2023.

Set a Financial Goal

To set a financial goal, you need to assess your current financial situation and decide what you want to accomplish financially in the next few years. This could be paying off debt, saving for retirement, or building an emergency fund.

Once you have a goal in mind, you can start creating a plan to reach it. Planning ahead and setting a timeline for your goal will keep you focused and motivated on your journey to financial freedom.

The next step to achieving your financial goals is to create a budget. Having a budget is essential for reaching them. It will help you monitor your spending and ensure you set aside money for your savings goals.

How To Go About Creating a Budget: Mastering Your Money

As mentioned above, creating a budget is a critical step on the journey to financial freedom. By creating a budget, you will better understand where your money is going and how to best use it to reach your goals.

A budget should include your income and expenses and should be regularly updated to reflect changes in your lifestyle and expenses. Start by tracking your income and expenses for a month so you know where your money is going. You can also use budgeting apps and other online tools to help you create and stick to a budget. Once you have that information, you can create a budget that fits your lifestyle and helps you save money.

When creating a budget, it’s important to stick to it. Make sure you have realistic goals that you can reach, and then review your budget regularly to ensure you’re meeting those goals. You should also evaluate your expenses and consider whether you can make any changes to save money. Finally, make sure you save some of your money each month and invest it in something that will help you achieve your financial freedom goals.

Investing Wisely: Making Your Money Work for You

Investing wisely can seem daunting to get started, but with the right information and resources, you can easily learn how to make your money work for you. Here are a few tips to get you started:

1. Find the right investments for you. Take the time to research different investments and find what works best for your needs. Consider both long-term and short-term investments, such as stocks and mutual funds.

2. Set aside money for investments. Setting aside a portion of your monthly income will help you make larger investments in the future. This money can grow over time, and you’ll be able to reap the rewards when it comes time to retire or buy a house.

3. Don’t be afraid of risk. Taking risks can be scary, but it can pay off in the long run. Do your research and make sure you understand the risks before investing.

When you learn about investing and start making smart decisions, you can ensure that your money works for you rather than against you. With dedication and a bit of research, you can create a bright financial future and live the life you’ve always wanted.

By following these 4 steps, you can take control of your finances and achieve financial freedom in 2023. Start saving, set a financial goal, create a budget, invest in yourself, make smart decisions, and you will reach financial freedom sooner than you think. Get started today and take control of your finances for a more secure future.

For more help on how to achieve financial freedom, contact us at keycreditrepair.com

Credit Card Best Practices Ahead of Holidays

Many people use credit card purchases during the holidays. They can help spread out payments for gifts, and rewards cards can provide substantial benefits by the time everyone’s gift is purchased.

If you’re going to use credit cards for holiday gift shopping, you should definitely know how to do so wisely. Follow these best credit card practices ahead of the holidays, so the cards are a net benefit and don’t bring you negative consequences.

Make Sure You Can Pay the Balance Off

While credit cards can help you spread holiday gift costs some, you don’t want to string these payments out indefinitely. Make sure you can pay off whatever you spend on gifts, preferably before interest is charged.

Budget your gift purchases so that you know how much you can spend. Consider any savings, salary/wages, and bonuses that you’ll receive, and can devote to gift giving. You might be able to count salaries received in early January, depending on your credit card payment cycle. Keep in mind that many people receive at least small holiday bonuses.

Consider a 0% APR Introductory Offer

Most credit cards will give you about 30 days to pay off purchases without interest, which may extend your timeframe into January. Some cards come with 0% APR introductory offers that don’t charge interest for three months, six months, or longer.

If you want to spread payments out for a longer period, consider applying for a credit card with a 0% APR offer. Just make sure you can pay off your purchases within the offer period, and that your extended payments won’t prevent you from taking a summer vacation or other fun activities that you do.

Ask for a Limit Increase

If you’re using credit cards solely for the rewards, you might be able to eke out a few more rewards by asking for a credit increase. You should already be making on-time payments if you’re in this situation. You also hopefully have no balance.

For customers who meet these conditions, many credit card companies will provide nominal limit increases. A 10% request might be good, as it’s reasonably likely to be granted and should help cover holiday spending.

Get Help With Existing Credit Card Debt

If you’re already struggling with credit card debt, don’t make it worse by overspending these holidays. Get help managing your existing debt and finding financial freedom in the future. For this holiday season, there are lots of inexpensive and DIY gifts that people will cherish.

For help managing credit card debt, contact us at KeyCreditRepair.com. We can assist with a wide range of credit card problems. Get in touch now for a Sign Up for $0 Today before you’re too busy with the holidays!

Ways to Use Your Credit Card That Nobody Talks About

If you have a credit card, of course you want to use it wisely to protect your finances. That’s why it’s always a good idea to treat paying with a credit card the same way that you would treat paying with cash. Still, there are some wise ways you can use a credit card that you may not be aware of.

To Pay Down Debt

Many people associate credit cards with getting into debt, but this doesn’t have to be the case. In some instances, it might actually make sense to use a credit card to pay down debt. This is especially true if you have debt with a high-interest rate and a credit card with a lower interest rate. You can save yourself a large chunk of change in interest alone by transferring your debt to a credit card with a lower rate.

To Earn Rewards

When used wisely, credit cards can also be used to rack up rewards and cash back. While the specifics can vary from one credit card company to the next, most credit cards include some sort of rewards system that can really add up. If you have a travel credit card, for example, you might be able to accumulate airline miles for each dollar you spend. Other cards may allow you to simply earn cash back that you can apply to your account and reduce your total balance.

For Peace of Mind

When it comes to making payments, credit cards can give you some added security and peace of mind compared to that of using cash or even a debit card. If your credit card is lost or stolen, or if your credit card information is compromised, most credit card companies will allow you to easily dispute and dismiss any fraudulent charges to your account so that you’re not left on the hook for them.

To Build Credit Strategically

When you use your credit card responsibly, you can actually build your credit and boost your credit score gradually. The key, in most cases, is to be mindful of your credit card utilization and keep it ideally around 30% each month. From there, be sure to treat your card as cash; this means being able to pay the balance off in full each month. These are the best ways to use your credit card to build your credit score over time.

Looking to Fix Your Credit?

As you can see, there are many smart ways to use your credit card that you may have never even considered. At the end of the day, if you can use your credit card responsibly, you can enjoy many benefits that range from cashback/rewards to lower debt overall.

Looking for more help when it comes to your credit and finances? Our credit repair experts are always here to help. Get in touch with our friendly team today to find out more and schedule your Sign Up for $0 Today and credit coaching plan.

The Modern Rules of Credit Repair

Is your credit score weighing you down? Perhaps a low score is preventing you from taking out a much-needed car loan or even qualifying for a mortgage. Or maybe you’re simply worried about errors on your credit report bringing your score down. Regardless, it’s important to understand your rights and options when it comes to credit repair.

How Does Credit Repair Work?

Specifically, credit repair is a process that involves disputing inaccuracies and other negative marks on your credit report in order to boost your score and ensure your report is accurate. The credit repair process can be long and complex, as it involves filing formal disputes and writing letters—often to each of the major reporting bureaus (Equifax, Transunion, and Experian).

Fortunately, third-party credit repair companies can take the time, hassle, and frustration out of the process. By working with a credit repair company, you can rest assured that an experienced professional will pull your credit reports, scour them for inaccuracies/discrepancies, and file formal disputes with the credit bureaus. Meanwhile, you won’t have to lift a finger.

Credit repair companies can also assist with writing and sending cease-and-desist orders to debt collectors who may be hassling you. Even in instances where negative marks on your report (such as charge-offs or tax liens) are accurate, a credit repair professional can sometimes work with creditors to negotiate and create a plan that works for all parties involved.

Once all disputes and errors are corrected on your credit report, you can see an immediate improvement in your credit score. Generally, each credit bureau has 30 days from the day a formal dispute was received to respond. This means that you could have a better credit score in as little as a month. And, of course, with a better credit score comes a greater ability to get approved for loans and other financing terms.

Is Credit Repair Right For You?

If your credit score is less than ideal—especially to the point that it affects your day-to-day finances—then it may be worth looking into credit repair services. Working with a third-party credit repair company will allow you to sit back, relax, and allow the professionals to work on your behalf. This frees up more of your valuable free time while ensuring that any issues with your credit report are handled properly and promptly.

Meanwhile, the credit repair process is more expeditious than ever, so you can see results quickly. This is because many reporting bureaus now offer online services to speed up the process. While some forms and paperwork must still be handled by mail, the credit repair process is much faster than it was before the era of the Internet.

How Key Credit Repair Can Help

At Key Credit Repair, we’re committed to helping you fix your credit. We’ll work to clean up inaccuracies, file disputes, and make sure your credit report is correct. Meanwhile, our online portal makes it easy and convenient for you to monitor our work. Ready to get started? Reach out to our team for a Sign Up for $0 Today!

Never, Ever Make These 5 Credit Repair Mistakes

Taking steps to fix your credit can be helpful, especially if you’re planning on making a big purchase, such as a house or car. Improving your credit can also help you get better rates on insurance. When you decide to focus on repairing your credit, ensure you’re doing it the right way. Making mistakes in credit repair can be costly. The following are some of the common mistakes you should avoid making:

1. Ignoring Your Credit Reports

You’re entitled to get a free copy of your credit report from each of the three major credit bureaus, which include TransUnion, Experian, and Equifax, each year. You can access these reports on the Federal Trade Commission’s website. Looking over these reports is where you should start when you want to fix your credit. These reports give you a chance to look for and report errors that are affecting your credit. A reliable credit repair specialist can help you find errors on these reports and work on removing them. 

2. Procrastinating on Credit Repair

Delaying credit repair can worsen your credit or stop it from improving, such as when you have harmful errors on one or more credit reports. These errors can stay on your reports for up to seven years. The sooner you file credit disputes and clean up your credit reports, the sooner your credit can improve. A credit repair company can help you get started on fixing your credit. 

3. Not Sending Certified Mail

When you fill out paperwork to dispute a credit error or when you’re corresponding with collection agencies or creditors, always send it certified. Sending uncertified mail means you won’t have proof that the creditor, collection agency, or credit bureau received your paperwork. This can cause delays in having your credit fixed. Working with a dependable credit repair company helps ensure you handle paperwork correctly.

4. Closing Credit Card Accounts

You might think that closing accounts can give your credit a boost. However, this can end up lowering your credit score. Closing accounts can harm your credit history, which makes up a third of your credit score. Credit repair specialists can help you figure out how to handle your credit card accounts, including whether or not to close any.  

5. Paying Old Debts

Paying off debts past the statute of limitations in your state might restart those debts. If you’re only making a partial payment on them, you could find yourself back on the hook for the total amount. A credit repair company can go over all of your debts with you and guide you when it comes to handling older debts.  If you need help fixing up your credit, we’re here to help. Please contact Key Credit Repair for more information on our services or schedule a Sign Up for $0 Today with our credit repair experts.

Top 5 Ways To Maintain A Good Credit Score

Your credit score is one of the most important things you have to prove your creditworthiness. If you plan to borrow money to buy a home or car, you’ll need to have a good credit score. That helps lenders see you can be a good credit risk for them. How do you maintain a good credit score? There are a wide range of factors that contribute to your credit score. Here are five ways you’ll need to focus.

#1: Making On Time Payments

Lenders value on time payments heavily. It is one of the most common factors to impact credit scores. Even being a few days late on a loan can make lenders worry you are struggling financially. Prioritize paying your debts a few days before they are due to minimize the risk of making a late payment. The best way to ensure that is to set up an automatic payment. Most lenders let you set up a specific day of the month for money to come out of your checking account. Since it is automatic, you don’t have to worry about it getting there late.

#2: Keep Your Credit Limit Lower

While it is ideal to owe less than 30 percent of your available credit limit on your loans, that is not realistic for many people. What is most important is to keep your balance under the limit. Going over it could hurt your score. Work to pay down your debt over time to help reduce the costs you’ll have to pay in overextending yourself.

#3: Keep Older Credit Lines Open

It’s tricky to keep older lines of credit open and not use them. However, your oldest credit lines are some of the most valuable to you. They show lenders you’ve been using credit for a long time. That means your credit score is a good representation of your actual risk. You’re not new but proven. If you have an old credit line you want to maintain, use it just for a few small purchases each month. Then, pay those debts off in full each month.

#4: Use Credit

Just having a line of credit or a credit card isn’t enough. You also need to use credit and make on time payments to prove yourself. A good way to do this is to use your credit card for gas payments or utility bills only. Then, pay it off every month on time in full.

#5: Check Your Credit Reports

It’s also important to make sure all information being reported about you is accurate. You can obtain a free credit report from each of the three credit bureaus one time each year. Do that at AnnualCreditReport.com. Look for errors and report mistakes right away.

Get the Help You Need to Repair Your Credit Now

Improving your credit score takes time and knowledge. With the help of our team at Key Credit Repair, you can get outstanding support to make better financial decisions. We are a bonded, fully insured, and top-rated credit counseling company ready to support you. Call us today to learn more.



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Pros and Cons of Credit Cards vs. Debit Cards

Credit cards and debit cards are both convenient payment methods that most merchants accept. However, notable differences make each preferable for certain purposes. Here are the pros and cons (and when you might want to use) each one:

Interest and Fees: Debit Cards

Both credit cards and debit cards can have fees associated with them, but credit cards tend to have more fees and also charge interest:

  • Credit cards can have any number of fees, possibly including an annual fee, late payment fee, over-limit fee and others. Interest is typically billed monthly on any unpaid balances.
  • Debit cards can have overdraft fees, and many charge a small fee anytime that they’re run as a “debit” transaction.

The fees and interest can be managed with both types of cards. Credit cards without annual fees are readily available. As long as you remain under the credit limit and pay off balances each month, you won’t pay late fees, over-limit fees or interest. Debit card overdraft fees can be avoided by budgeting accurately, and the per-transaction fee doesn’t apply if you pay via “credit.”

For the simplest and most sure way to avoid fees and interest, though, a debit card is the better choice.

Rewards: Credit Cards

Debit cards that offer rewards are hard to find, but many credit cards provide rewards. Rewards can include cashback or points, the latter which might pay for consumer goods, tavel or other items. Some rewards programs even have an option that allows you to donate to charity.

The standard rewards that credit cards offer generally range from 1 to 5 percent, and sometimes certain categories get higher percentages back. This is in addition to bonus sign-up rewards, which can be substantial and many cards come with for new accounts.

Many people use credit cards because of their rewards. In order for the rewards to be worthwhile, however, you must avoid fees and interest.

Purchase Protection: Credit Cards

Many credit cards offer purchase protection, which can include dispute resolution, insurance and other provisions. You can usually contest charges if a merchant fails to meet its obligations. Insurance is normally offered for specific purchases, such as rental cars or travel.

Debit cards don’t offer any such purchase protections. For this reason, it may be wise to use credit cards whenever you pay for more expensive items.

Credit: Credit Cards

Because credit cards are effectively lines of credit that provide short-term financing, they affect your credit. Making at least the minimum monthly payment establishes a payment history, which is part of your credit score and history. 

The effect on credit can work against you if you over-borrow, fail to make payments and carry high balances, however.

Get Help With Bad Credit

If you’ve gotten into credit card trouble and now have bad credit, contact us at Key Credit Repair. We can help you begin improving your credit score and credit report.



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Top 7 Ways To Plan Your Budget for a Pet Emergency

Having a pet comes with a lot of love and enjoyment, but it can also come with plenty of expenses. Some of those are expected and easy to budget for, but if you have a pet emergency you might not be prepared. Here are seven great ways to protect your budget and be more prepared for an emergency with your pet.

1. Don’t Avoid Basic, Preventative Care

It can be easy to avoid taking your pet for routine checkups, especially if they seem healthy. But if you have them checked out on a regular basis, a problem could be caught before it develops into something much worse. Not only is that better for your pet’s health, but it’s easier on your budget to treat the problem before it becomes an emergency.

2. Create an Emergency Fund Separate From Your Savings Account

If you put some money back into a separate account, you’ll have it to spend if your pet has an emergency. Whether it’s part of your overall emergency fund, or it’s an additional account that’s only for your pet, it’s a good idea to keep it separate, so you aren’t tempted to spend it on something else.

3. Apply for Care Credit, To Have if You Need It

Care Credit is a credit card that’s designed to be used for pet medical expenses. If you have it and don’t need it, that’s much better than needing it and not having it. It’s easy to apply for, and could help your pet get emergency care when it’s needed most.

4. Choose a Good Pet Insurance Plan

Pet insurance can be one of the best ways to plan for a pet emergency. If you have insurance for your pet the amount you have to pay will be limited, no matter how much the care actually costs. It’s just like having health insurance for yourself or your family members, and can really make a difference in the cost of your pet’s emergency care.

5. Look for Veterinarians Who Work With Their Clients

Some veterinarians will take payments or work out other terms with clients whose pets need emergency care. If you can find a veterinarian in your area who does that, it can be a great way for you to start developing a relationship with medical professionals you can trust in your pet’s time of need.

6. Reach Out to Charities That Help With Vet Bills

There are a lot of charities that specifically help with vet bills, so you have some options if you end up with a pet emergency that goes beyond your budget. It’s a good idea to do some research on the charities ahead of time, so you know which ones will be most likely to help you, and how to apply for that help.

7. Plan Ahead Before Adding a Pet To Your Family

While pets are wonderful additions to many families, they definitely cost money. If you’re not in a position to pay for emergency pet care right now, it may be worthwhile to wait on getting a pet if you don’t already have one. With some planning, you can add one to your family in the future and have more financial peace of mind at the same time.