Managing Debt

In addition to paying your monthly bills using your Blue Star Pre-Paid Debit Card, it is important to your overall credit profile that you mange the debt you have presently.
If you have significant debt from credit cards or other loans, the following steps should help you improve your credit profile. First, begin by reviewing the number of credit cards you are using, the interest rate of each, and the amount you pay annually for fees.  Do the same with any loans you may have. Then take the following steps.

1. Make a list of your outstanding debts. Here’s a case where knowledge is definitely power. The first step in trimming your credit debt is to figure cut just how much you really owe. Don’t forget to include: educational loans, home improvement loans, checking accounts, overdrafts, passbook loans, personal loans for insurance, taxes, or trawl, rent-to-own agreements, and other installment purchases. Use one of two systems to organize your information: size of debt or annual rate of interest

2. Decide which debts to pay first.  Here are several strategies for deciding. Choose the one that works best for you. Any of the three will result in significantly diminishing your debt and improving your credit. THE MOST IMPORTANT THING ISTO CHOOSE ONE AND GET STARTED!
            *  Compare the debts with the highest interest rate to the debts with the lowest rate. Start paying more than the monthly payment for debts at the top of the list which have the highest rate of interest then move down the list
            * You can choose to pay off bills with the lowest balance due. For example, if you owe only two more payments on your furniture or car, you may want to pay these off as soon as possible. Once you pay off a bill, add that amount to your payment to another credit crard.
            * Another option is to pay the debts that are most important to your credit rating or to keeping your family safe. For example, you may need to pay you electric bill to keep the electricity from being turned off. Maybe you need to pay for you car to keep it from being repossessed. The consequences of not paying other bills may not be as bad, and they can wait a while. If you owe on store and bank charge cards, you should try to make some payment on them each month because these businesses report monthly to a credit bureau, and nonpayment will affect your credit rating.
 
3. Pay your bills using the Blue Star Card.  This card is accepted wherever Master Card is accepted. Using this pre-paid debit card ensures you are not spending money you do not have.  One of the first steps to managing your credit is to stop going deeper into debt.  The Blue Star Card can help.  Simply click Get Started today and begin the journey toward a better future.