What does “manage your credit” mean, anyway?

The other day I was having lunch with a friend at a deli, which had just run out of Swiss cheese. “Oh for Pete’s sake,” my friend blurted out. “What kind of sandwich place doesn’t have Swiss cheese?”

That got me thinking—not about cheese—but about the phrase, “for Pete’s sake.” It’s a common saying I hear all the time; I just wasn’t sure what it really meant. (Who is this Pete fellow?)
Then I realized there are a lot of terms or sayings we use that don’t have obvious meanings. In fact, I use one all time that may not be clear to everyone: “Manage your credit.” What does that actually mean?

Man-age (man’ij) vt. 1 to control the movement or behaviour of; handle 2 to have charge of; direct; administer

Credit management can mean many things to many people. For those of you who want to take an active role in your credit, it means understanding how credit affects your life—and how to use it to your advantage.

Here are three things you can start to do right now.

1. Order your credit profile more than once a year Your credit profile can change daily (especially if someone is pretending to be you), so you need to know what’s going on all the time. Credit reports make it simple to track your credit information.

2. Establish your own credit

Do you only have credit cards that are joint accounts? Even if you share the account with your spouse, it may be best to get an individual account to build credit in your own name. That way, you can make sure it’s your actions that affect...

Learn more here: http://www.bookfinance.com/what-does-manage-your-credit-mean-anyway.html

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