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Thinking about Credit

• Take the amount of the purchase you intend to make and add about 20 percent to it. That's about the average percentage most people pay after you consider monthly interest rate and pay off time. Keeping this in mind makes those hard to resist bargains a little less attractive.  You are not really getting 20 bucks off on that golf club if you put it on your credit card. 
   
• Before you make that purchase, think, "Can I pay this off in 25 days?" 
  If the answer is no then you should reconsider the purchase. It only takes a few months of not completely paying off your balances to shoot your monthly payment up. 
   
• Read the terms very well. Pay close attention to the interest rates and annual fees. Some annual fees are very high. Don't be tempted by a special introductory rate. They are usually for a very short time and your balance is set to the new interest rate as soon as the introduction is over. 

Understand that bad credit cost you far more money in higher interest rates on your credit cards and loans. Keep an eye on your credit score by ordering your credit reports at least once a year. Check them for accuracy and be quick to dispute anything that does not seem correct. Find out more information on repairing your credit by downloading the Credit Repair Guide, "Give Yourself Credit" Click here for more information.