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 auto, or searching for the best deals on insurance, your credit worthiness will be judged by your credit rating or credit score.
A bad credit history or bad credit habits will 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.
Establishing good credit habits and therefore a good credit rating will improve your credit worthiness. This will be reflected in potential lenders offering you substantially lower interest rates and better deals on credit offers.
Here are 4 tips to help you create a shining credit profile:
1) Pay Your Bills On Time
Lenders only have your past payment history on which to decide the type of credit risk you present to them. How you pay off your debts now indicates to them how you will pay off future debts.
2) Don't Use Too Many or Too Few Credit Cards
How much is too much ? How little is too little ? Many credit experts 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 due payment, but never less. And remember, just paying the minimum payment means it will take you years and years to pay off that credit card.
Example: Paying off a $2,000 credit payment at 18% APR with a minimum monthly payment of 2% ($40 dollars or less) will take you 30 years to pay off the amount plus interest.
4) Review Your Credit Report Regularly
Monitor your credit report from all three major credit bureaus - Experian, TransUnion, and Equifax - on a regular basis. Check your credit profile at least annually. Review it carefully and make sure that any past mistakes or disputes have been corrected.
Also, if you notice an account listed that you know that you have not personally opened, contact that creditor and the 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 an estimated 1 million people victimized each year.
Establish good credit habits early in life and reap the benefits that your good credit rating will provide you for the rest of your financial future.
© 2004, www.yourfreecreditreportnow.com
Author: James H. Dimmitt.
Get your FREE credit report online now and subscribe to our FREE weekly newsletter for consumers, "TO YOUR CREDIT". Visit http://tinyurl.com/bgo9 for details.
Ebooks, Scripts,
Websites, and more... In industrialized nations, going into debt starts early. It's easy... Read More The process of clearing credit can be laborious and frustrating,... Read More Imagine...obtaining credit that's incredibly easy...opening doors of opportunity you never... Read More If you find that creditors are calling you almost daily... Read More No doubt, you've probably gotten literally hundreds of credit card... Read More There are many of us that have been badly stung... Read More If you want a cash advance or a payday/paycheck loan,... Read More For those of us who know how to use them... Read More Always shop around to get the best deal when choosing... Read More Obtaining a credit report is an excellent way to begin... Read More Online credit reports are easily accessible to those interested in... Read More Your credit report--a type of consumer report--contains information about where... Read More Debt negotiation on credit cards is often referred to as... Read More Owning a credit card can be quite an advantage. Whether... Read More It is estimated that billions of dollars in delinquent commercial... Read More Credit card debt is a major social problem in some... Read More Nearly 20 years ago I worked for a small consumer... Read More There is a lot of confusion surrounding UK credit ratings,... Read More What Is Your Credit Rating Now?If you have any charge... Read More What is a balance transfer?A balance transfer can be explained... Read More The most important thing for you to remember is that... Read More Some credit cards offer a cash advance option. But how... Read More There are many misconceptions about credit scores out there. There... Read More Fact: Over 150 million Americans have credit report with the... Read More When you apply for a loan or a mortgage, the... Read More
Cheap Domain Names
Credit Trap: What They Dont Tell You About Credit Cards In College
10 Step Credit Repair Guide
Tired Of Being Broke?...Learn How To Force Banks To Give You Money!
Credit Problems? Heres How to Manage Your Creditors
My Credit Card Application Was Rejected! Now What?!?
Credit Card Dirty Tricks
Cash Advance ? How Does It Work?
Fun with Credit Cards
Choosing The Best Credit Card To Apply For
Comprehending a Credit Report
Online Credit Report and Online Credit Reports
How to Dispute Credit Report Errors
What You Need to Know about Debt Negotiation on Credit Cards
Credit Cards - A Blessing or a Curse?
Commercial Collections And Credit Granting
Defeating Credit Card Debt With Self Control
Credit Traps Snag Consumers
Your Credit Rating and How To Check It
A No-Brainer Way Of Getting Credit And Credit Cards
All About Balance Transfers
Good Credit Is Not A Good Reason To Borrow More Money After Youve Achieved Financial Freedom
How To Save Money On Credit Cards
The FICO Score Misconceptions
All Is Fair In Love, War, and, Your Credit Report - At Least It Should Be! Understanding the FCRA
What Does Your Credit Score Tell You?
If you're a college student, you probably already have a... Read More
A lot of credit score myths about fico score ratings... Read More
Do you know why you should check your credit report?Of... Read More
A new sickness is plaguing the UK called Denial. Denial... Read More
When I received my first credit card in the mail... Read More
Most families in America today have a credit card; some... Read More
If you've ever applied for a credit card or loan,... Read More
Make Money from StoozingStoozing, this is a sophisticated method of... Read More
In this week's article, I am going to offer some... Read More
Your credit is the most important thing you have other... Read More
Virtually all consumers will have a credit card at some... Read More
Secured and unsecured debt - what's the difference?It's easy to... Read More
Identity theft is the fastest growing crime in America, according... Read More
Millions of Americans suffer because of bad credit these days,... Read More
If you've ever applied for a credit card or loan,... Read More
Credit has become a much-used word, thanks to the various... Read More
A credit card allows you to buy things even though... Read More
In industrialized nations, going into debt starts early. It's easy... Read More
A lot of people have bad credit. It is unfortunate... Read More
Your credit score may just be a little number, but... Read More
I didn't think it was possible. But it is. Folks,... Read More
When credit cards are used wisely they can be very... Read More
Keep Your Credit History Clean - Remove A Negative Credit... Read More
Debt negotiation on credit cards is often referred to as... Read More
Credit score is the key factor determining approval of almost... Read More
Credit |