Maintaining a good credit score during this pandemic might not be a top priority at the moment. However, try to remember that this crisis will pass, and you should do your best to come out of this as financially solid as possible. Here are some ways to make sure your credit stays sound during the coronavirus crisis.

Freeze Your Credit
Add an extra layer of security to your finances by putting a freeze on your credit for a few months (or forever). Make sure youmonitoring alerts on so you are notified to anyone trying to access your credit illegally.

Make Some Calls
If you’re unable to make payments on time, pick up the phone. Contact all your lenders and explain your situation. Companies are being lenient right now. There’s a good chance they will work with you to delay a payment or two or find some other type of workaround. Remember to get what they say in writing — email or letter.

Breakdown Your Budget
Now is the time to make bills a priority. Go through your budget and trim any unnecessary expenses. Then funnel that money to mandatory bills (although the tried and true advice to pay your credit cards in full doesn’t hold true if you’re short on funds, more on that in a moment) and then, if possible, savings.

Make Payments
If things are tough right now, rather than struggling to pay off your credit cards in full, make minimum payments. You don’t want to rack up a lot of avoidable debt in this time. It’s more about keeping some savings liquid. That said, making timely payments will go a long way toward keeping your credit solid.


This blog is available for Granite State Credit Union members through CreditSavvy, in partnership with, and powered, by SavvyMoney. To learn more about CreditSavvy click here. LINK: https://www.gscu.org/services/credit-center.html#creditsavvy