Now as we get right into knowing what credit scores is for, the most important thing is that you already knows what it do and that is ,"GIVES YOU BAD CREDIT ". We all know that bad credit scores can stop you from having and doing what you want to do in life. For instance, bad credit can stop you from purchase a home , buying a car, getting loans from banks, etc.
Credit scores is a number system use for lenders to determine how good you maintenance finances or your risk of paying money back. Your credit score get rated from three major credit Corporations, known as, Equifax, Transunion, and Experian.
In order to improve your credit score these are some steps you can take to keep.....
- Review your credit report for errors Sometimes getting rid of errors and mistakes off your credit report can increase your credit score . (keep in mind that credit bureau makes mistakes too).
- Pay your bills on time Late payment is saved or recorded on your credit report and can also low your credit score. If you miss a payment, make sure you catch up and notify the bank or loan person a schedule time for a late payment. That way they can have it on record. (This is the most important step).
- Keep your credit balance to a minimum When using credit cards don't max out the card. The best way to use a credit card is the buy something that you can easily pay back. maxing out cards can also bring your score down.
- Don't apply for credit to often Every time you apply for credit an inquiry is placed in your file. Too many credit applications can lower your credit score. Keeping your old credit up is better than new credit.
- Keep a few credit accounts If you have no loans, or credit accounts, you is also considered a credit risk to lenders. Keeping up with a few credit cards, paying them up on time, keeping them at a reasonable balance can help improve your score.
1 comment:
Interesting post!
Thanks
Originalluxury
Post a Comment