Once you open an account, you need
to manage it carefully. Avoid extra fees or account problems so that your
credit report remains in good
standing. Here are four tips to keep in mind:
Track all deposits and withdrawals. Check your balance every month against the statement that your bank
sends you.
As soon as you write a check, subtract that
amount from your balance. It may take weeks for some
individuals and businesses to cash your check. By immediately
subtracting the check amount from your balance, you will avoid bouncing checks
because you thought you had more in your account. Note also that
Automated Teller Machines (ATMs) may not always reflect recent transactions,
so keeping your own record will help you keep track of your budget. Learn how to create a spending
plan/budget
Use your bank or credit union's ATMs to
avoid fees Generally, to use the ATM
of a bank or credit union other than your own, you have to pay a fee. So
try to use an ATM from your bank or credit union only to avoid extra
fees.
Keep your personal information in a safe
place. Identity
theft can ruin your credit and take years to resolve. Keep your
bank account numbers, ATM cards, passwords and Personal Identification Number
(PIN) to yourself. Do not share them with anyone.
