The financial strain we feel in the holiday season has the potential to lead to missed payments or increased credit card balances. This type of financial stress has the potential to impact your credit score, particularly when it results in negative changes to your credit card use and payment behavior.

Here are some tips to help you manage your credit score during this season:

• Establish a realistic budget for spending, including gifts, decorations, travel and all festivities you’re planning.

• Limit your credit card usage to what you can comfortably pay off in full when your statement arrives.

• Avoid maxing out your credit cards, as high credit utilization can negatively impact your credit score.

• Check your credit card and bank statements for any unauthorized or suspicious transactions. You can also set up account alerts to receive notifications for large transactions or unusual activity.

• Limit opening store credit cards for holiday discounts, as each application can result in a hard inquiry on your credit report and multiple inquiries can lower your credit score temporarily.

• Make all your payments on time, including credit card bills, to avoid late fees and negative impacts on your credit score.

• If you anticipate financial challenges, communicate with your creditors in advance. Some may offer flexibility or alternative payment arrangements.

Responsible financial management during the holiday season can help maintain or even improve your credit score and your financial well-being.

Call us at 1-800-822-7120 if you have questions or need support.

Wishing you a season filled with warmth, happiness, and financial resilience!