March 29, 2018
Managing just a few credit cards can be easier than having many cards,” says Larkham. But it’s important to look carefully at the types of credit cards you have in your name. “We recommend setting up your credit cards in a way that your name is the only one on the card,” advises the Credit.com article. “While you may not have to make a lot of transactions each month, setting up the credit card on a monthly basis can help manage your debt and save you money each month.
Check Your Credit Report
Get a free copy of your credit report, or get one by contacting your credit bureaus. Your FICO Scores are used by some employers to help match applicants with jobs. For more information, see CFP.gov/fico.
In addition, there’s a process for filing a complaint with the Consumer Financial Protection Bureau (CFPB), or to check your credit scores with the credit bureau TransUnion.
What should I do about a late payment on my credit card?
If you have a bad credit history, you may need to pay off your debt early to prevent future creditors from seeking your information, but it’s important to have the right payment arrangement in place, we’d suggest to get advice from professionals like the ones at SoFi. This can be as simple as the following steps:
Ask your creditors to remove your late payments from your account (if they have them).
Complete a payment plan with your creditors.
Report all missed payments to your creditors or to the CFPB. Use an online dispute form to dispute your creditors’ claims about your late payments. See our guide to credit card debt for more information. Does my business have a credit card? When it comes to a business credit card, the best advice is to make sure that your business has a reasonable and effective system of payroll, payroll deductions, and a debt payment program in place before considering a credit card for payroll.
If you can’t get a credit card for payroll, you may need to consider a payroll deduction plan. The credit card can help you keep track of your payroll, help avoid payroll taxes, and even help you get a loan from a bank. However, if you’ve already taken the step of opening a payroll deduction plan, and your business has a bad cash flow, you should consider asking your business to take out a new business credit card. If you don’t need the help, it may be a better option to get a line of credit or a loan. For more tips and tricks on getting a credit card, click here.
What to do if you can’t get a credit card for payroll
Before you go on the hunt for a payroll deduction card, make sure you don’t need one. Even if you have enough available cash to cover payroll taxes and payroll expenses, you may still need a credit card for payroll. You should also know how to ask for a credit card for payroll and how to get
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