Aftas Credit Solutions

Slow and steady wins the race. Let’s help improve your credit so you can live the life you deserve.

Some great info right here! 💎👇🏻

HOW TO CORRECTLY PAY A CREDIT CARD!

1) Find your due date on your statement. Now that you have it, FORGET IT. NEVER worry about it again, wipe it fron the calendar, it never existed. Due dates are for calculating interest charges on the card only, not for utilization. So it does not matter what the interest rate is on a card since you never pay any as long as you pay your previous statement balance in full.

2) Now find the statement date, also called closing date or cycle end date. Put that date in big red letters on everything in the house. The kids forehead, calendars, front door glass, bathroom mirror, you get the idea.

3) Now 3-5 days BEFORE that date, pay down your card balance to 1-4% of the card limit. So if you have a $300 limit you need to pay down the balance so there is $3to$12 left on the card. Leave it with a balance. The credit card will report to the credit bureau that you have 1-4% utilization for that card. This is the BEST percentage for FICO score boost.

4) Now this step is an important part to remember. Soon as your statement closes and reports, your due date will show the min due in 20 or so days away. This is the date you have to pay by to avoid any interest, but we dont care!. Now 2 days after the statement date, you know the one wrote in big red letters all over the house? Pay the card balance off back to Zero. Now you have already made the min payment due by the due date and avoided any interest charges.

5) You have eliminated your due date, reported the best utilization, and avoided any interest payments all with in 4 days. Now your card has a zero balance and you can use it as much as you want. You can MAX the card, pay it down again, MAX again, do what ever you like. BUT, look for your next cycle end date and start all over again. Go back to step 2 for that date. Repeat every month. You will never pay interest, can maximize your rewards if it is a rewards card and still get a great FICO boost.

What is a credit score?

A credit score is a number generated by a mathematical formula that is meant to predict credit worthiness. Credit scores range from 300-850. The higher your score is, the more likely you are to get a loan. The lower your score is, the less likely you are to get a loan. If you have a low credit score and you do manage to get approved for credit then your interest rate will be much higher than someone who had a good credit score and borrowed money. Therefore, having a high credit score can save many thousands of dollars over the life of your mortgage, auto loan, or credit card.