Continuing from the last post, more on what we can do to stay in control of our finances:

• Utilize free credit reports. How can you make sure that you keep abreast of your credit report? Free credit reports – something that we all have the right to receive as consumers – can allow us to stay on top of any activity happening on our credit report including the decrease of our credit score and unusual changes. In fact, we are all given the opportunity to get a free credit report once a year from each of the credit bureaus – Experian, Equifax, and TransUnion. By ordering free credit reports from all of the credit bureaus throughout the year we can make sure that we always know where we stand in terms of our credit.

• Compare credit cards. Now is most assuredly the time to stay in control of your spending and that includes spending on erroneous fees. This is why it is so important to compare credit cards throughout the year to make sure that you are absolutely getting the best deal available to you. Different credit cards offer different interest rates and introductory offers; by staying on top of what the credit card companies are offering you can transfer balances, pay lower interest rates – and even zero percent interest for a period of time, and take advantage of the earning of different points good towards travel and the like. Take the time to compare credit cards and you will be taking the time to save money.

• Secured credit cards. For those who are not in the best financial position but still need the credit, there is the opportunity for secured credit cards. Such cards extend the user a particular amount of credit, but the cardholder must match this credit limit by depositing the matching amount into a secured savings account. Secured credit cards protect the lender from default and allow consumers to build their credit.

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