3. Shop for the best available rates – one way of keeping your credit scores high while ensuring low credit card and loan payments, is taking time to review the best rates before you make any commitments. For example, if I am from college, I can request for a card with low interest rate charges.
4. Pay your bills ontime – This is the key to maintaining high credit scores. If you have many things going on such as auto, mortgage and insurance payments, you can create an efficient payment plan to ensure your payments are made in good time to avoid negative credit reporting. If you have problems with payments, you can automate your monthly payments from your bank or get help from debt consolidating agencies.
5. Check your report to ensure clarity – You can easily improve your financial position and credit scores by searching thoroughly at your credit payment history for accuracy. The first point is requesting for a copy of your credit history. This should be done every often to avoid cases of wrong-identity, which are common in people with the same name. Any inaccuracies should be reported instantly to avoid distortions that could hurt your credit scores.
6. Find out why your credit scores are low – experience tells us, if you have low credit scores, the first step to improving your scores is find out the reasons behind the drop. You can find out about the issues derailing your credit scores by requesting for a free credit report from credit bureaus. The next step is to follow through by solving those issues step by step.
7. Request for an increase in your credit limit – doing this is an added boost your credit scores because it is much easier to increase the credit limit of an existing line of credit than changing a new credit cards credit limit. Whenever the increments are done, your debt-to-limit ratio also improves, thereby opening new opportunities to seek higher credit limits. However, this can only happen if your payments are in good standing
8. Do not open old debts – if you have old debts, however how bad stop making payments on these accounts because old debts automatically drop-off your credit report after 7 years. Another plus is the fact that allowing these accounts to close automatically resets your credit scores. However, if you continue to make payments on these accounts there will be little gain because the debt will continue appearing on your report for another 7 years.
9. Do not max your credit cards – whenever you are using your credit cards, avoid using the credit to the max by clearing your credit cards balance too soon. This will give you room enjoy new lines of credit because credit companies usually analyze the duration in which a credit has been active to determine one’s eligibility to carry new card.
10.Do not make multiple credit card application at the same time – If you want to maintain a steady and positive credit scores, dont sign up to many credit card applications at once as this could negatively impact your credit scores, even if they are free because these applications are always monitored by credit agencies. Credit Repair Guide When you are in the process of creating or improving your credit history, several errors might creep in and affect your scores. This is why it is important to rebuild or repair your credit. The company you choose must be reputable to ensure you receive the services you’ve requested. You can use your phone or email to contact companies with a good credit repair reputation such as Lexington Law, Credit Repair Kings and Sky Blue.
Most agencies may request that you first get your free credit report, choose best credit cards with manageable terms or refinance your debts. The other common suggestion is making small, but steady progress in paying off your debts to avoid collection and ultimately bad credit. Review Credit is an important business tool that can help you purchase goods or services and pay at a later date. Payments can be by cash, wire transfers, check, and online payments through the bank. Credit takes various shapes depending on intended purpose. The most commonly accessed lines of credit target personal finance clienteles seeking mortgage for buying a house, credit cards, personal loan, auto loan and student loan.
To enjoy these benefits, you need to have good credit history. If you are creating your credit history from scratch, one thing you must remember is shop for best credit card option that you can afford. According to Credit Repair Kings, you can keep your credit in good standing by doing several things, including; maintaining low credit card balances, making payments ontime and periodically checking your credit report for fraud, identity theft and errors. Generally speaking, a credit score of 619 and below is considered poor or bad credit while a score of 730 and above is a great credit. Since it is easy to make your credit history than build one, it is important to take keen interest in maintaining your credit while keeping the flaws as few as possible.