Easy Negotiating Tips For The Holidays

The holiday season is here. It brings with it joy, happiness, and fees. If you’re working to build healthy credit, then here are a few tips on how to save money this holiday season.

#1. Over-Draft Fees: If you’re trying to avoid credit card debt, and stick mostly to your debit card, there’s a chance you may miscalculate and get an over-draft fee. These fees range between $20-50, and can turn that $29.99 gift for your mom into a missed rent payment or worse. If you get hit with an over-draft fee, the first thing you’ll want to do is contact your bank. If you’re not a frequent offender, you’ll be surprised at their willingness to refund the fee. Make sure you communicate the mistake, and your intent to resolve it.

Pro-Tip: Open up an overdraft line of credit to avoid these situations in the future. That line of credit shows as a revolving account, and can help you build a healthy credit score.

#2. Late Payments on Credit Cards: Late payments and fees create a headache for both your wallet and your credit score. If you miss a payment, and notice a fee, it’s in your best interest to at least ask your credit card company to waive the fee. If you forget a payment, and it goes past 30 days from the due date, it could negatively impact your credit score. If for some reason this happens, you’ll want to ask specifically for a Goodwill Adjustment, eliminating that late payment from the credit report.

Pro-Tip: Schedule an automatic payment each month for at least the minimum payment amount on your credit cards. if you’re in a position to pay more, then check go ahead! Not paying your accounts on time can dramatically impact your credit scores.

We hope this information helps you better manage your finances and credit score throughout the holiday. If you have questions, or are struggling with poor credit, we’d love to help however we can.

Contact us here for a Free Evaluation.