May 11, 20204 Ways to Make Your Credit Cards Work for You

What’s one of the most persuasive pieces of advice that you’ve heard about credit cards? Most likely, your parents told you to pay them all off, cut most of them up, and save only one for emergencies.  

But you don’t have to destroy your credit cards or refuse to use them to take control of your spending habits. In fact, refusing to use credit can weaken your credit score. Here are four ways to manage your credit card balances while continuing to use your credit cards 

1. Reschedule Payment Dates for More Convenient Times. Just move your payment date. This is especially helpful if your payday doesn’t match your payment due date. You will lower your chances of missing a payment. FYI: Credit card payment history accounts for about 35% of your credit score.  

2. Pay in Full Each Month. If you can. This keeps your balance low and keeps extra finance charges at a minimum. If you make a large purchase, make smaller payments throughout the month to lower the balance as much as possible. The lower the balance, the less interest you’ll be charged.  

3.Track Spending Habits. It happens to all of us. We purchase the small items continuously while thinking that we are nowhere close to our budget limits. If available, set up alerts tied into your credit card balance that warn you when your spending is reaching the credit card limit. Also, use your mobile banking app or text banking to check your account daily for balance updates. You can evaluate your credit card spending for instances of unnecessary expenditures.

4. Transfer Your Balances. If managing multiple credit card balances is just too much, then consolidating the balances may be for the best. You could be eligible for a PEFCU VISA Credit Card, which would allow you to transfer your balances over to PEFCU. You’d save money-making one credit card payment per month at a better rate. You can research more online.   

And of course, you could keep more than one credit card 

We’re Here to Help! 

Your credit card spending doesn’t have to get out of hand. Paying off your balance on time and tracking your expenses can allow you to lower your debt without destroying your credit cards. 

If you have questions on budgeting or paying off credit card debt, stop by, or give us a call at 1-800-226-6673. 


Each individual’s financial situation is unique, and readers are encouraged to contact PEFCU when seeking financial advice on the products and services discussed. This article is for educational purposes only; It does not constitute legal advice. If such advice or a legal opinion is required, please consult with competent local counsel. 


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