Tips for Managing Debt

September 25, 2018

  • Be aware of your monthly payments, and include them in your budget. (This may seem obvious, but many forget to include debt payments in their monthly budget.)
  • Pay your bills on time. This is the single most effective step you can take to protect your credit score. As an added bonus, it helps you avoid costly fees and late charges.
  • Have you reduced the interest rate you’re paying where possible? Compare your current credit card accounts to others to see if you qualify for a card with better terms or a lower interest rate. Does debt consolidation make sense? (You might want to talk with a Personal Banker to find out what you can expect.)
  • Protect your credit information - no one wants to become a victim of fraud. Keep a central record of all your accounts and the numbers to call if a card is lost or stolen.
  • Never give your personal information over the telephone to vendors who call you. (This includes your checking account number, credit card numbers, passwords, or other account information.) Only give this information if YOU initiated the call. If someone calls you to request this information, call the company back using a number you have one file, not a number the caller gives you. You'll receive very few, if any, legitimate calls requesting personal information. CSB will never place a call requesting your account or personal information.