As a consumer, you've learned the importance of establishing a good credit rating with your lenders. Whether you are shopping for a new home or automatic, or the search for best deals on insurance, your credit will be judged by your credit rating or credit score.
A bad credit history or bad credit habits place "black marks" on your credit profile. These include things such as late payments, having an account assigned to a collection agency, and of course bankruptcy.
Establish good credit habits and, therefore, a good credit rating will improve your creditworthiness. This will be reflected in potential lenders to offer much lower interest rates and concerns better availability of credit.
Here are 4 tips to help you create a brighter credit profile:
1 Pay your bills on time
Donors only have your past payment history to decide what type of credit risk you present to them. How you pay your debts now tells them how you will repay debts future.
2 Do not carry too much or too little credit cards
How much is too little is too little How many experts credit and financial planners suggest two to four credit cards is just the right mix.
3 pay at least the minimum due
Always pay at least the minimum payment, but never less. And remember, just pay the minimum payment you will take years and years to bear fruit only credit card.
Example: a payment of $ 2000 credit payment to 18% APR with a minimum monthly payment of 2% $ 40 dollars or less will take 30 years to repay the amount plus interest.
4 Review your credit report regularly
Watch your credit report three major credit bureaus - Experian, TransUnion and Equifax - on a regular basis. Check your credit profile at least once a year. Examine carefully and make sure that past mistakes or disputes have been corrected.
Also, if you notice an account listed above that you know you do not personally open, with the creditor and credit bureaus immediately. This could be a sign that you've had your identity stolen. Request to have a fraud alert placed on your profile and account to protect yourself and your credit. Identity theft is the fastest growing consumer crime in America, with approximately 1 million victims annually.
Establish good credit habits early in life and reap the benefits that your good credit you for the rest of your financial future.
A bad credit history or bad credit habits place "black marks" on your credit profile. These include things such as late payments, having an account assigned to a collection agency, and of course bankruptcy.
Establish good credit habits and, therefore, a good credit rating will improve your creditworthiness. This will be reflected in potential lenders to offer much lower interest rates and concerns better availability of credit.
Here are 4 tips to help you create a brighter credit profile:
1 Pay your bills on time
Donors only have your past payment history to decide what type of credit risk you present to them. How you pay your debts now tells them how you will repay debts future.
2 Do not carry too much or too little credit cards
How much is too little is too little How many experts credit and financial planners suggest two to four credit cards is just the right mix.
3 pay at least the minimum due
Always pay at least the minimum payment, but never less. And remember, just pay the minimum payment you will take years and years to bear fruit only credit card.
Example: a payment of $ 2000 credit payment to 18% APR with a minimum monthly payment of 2% $ 40 dollars or less will take 30 years to repay the amount plus interest.
4 Review your credit report regularly
Watch your credit report three major credit bureaus - Experian, TransUnion and Equifax - on a regular basis. Check your credit profile at least once a year. Examine carefully and make sure that past mistakes or disputes have been corrected.
Also, if you notice an account listed above that you know you do not personally open, with the creditor and credit bureaus immediately. This could be a sign that you've had your identity stolen. Request to have a fraud alert placed on your profile and account to protect yourself and your credit. Identity theft is the fastest growing consumer crime in America, with approximately 1 million victims annually.
Establish good credit habits early in life and reap the benefits that your good credit you for the rest of your financial future.
