How to Build a Good Credit History?

This question often asked by many consumers and it deserves to talk about.Score, Report and History

To establish a credit history must exist in the credit system. So it is true to say that using credit card to make a name but yet should be used wisely…

 

Here are some tips and ways to build credit

 

Have one credit card linked to your financial institution with a reasonable limit. The best way is to pay the balance in full every month, otherwise, make sure you make the minimum payment.

 

Hold the balance at the lowest possible limit. More balance is high compared to your limit; the higher your credit score is affected. Do not exceed the limit.

 

Pay off your credit card as you use. This avoids interest charges and helps you better manage your finances.

 

Always pay your bills on time. Although the payment of utility bills does not appear in your credit file, the cell phone companies don’t hesitate to report late payments, which may affect your case.

 

Contact your creditors if you experience difficulties. Check your monthly statements and keep you abreast of changes that could be made.

 

Save! Have savings from your financial institution demonstrates that you are an informed consumer and could even be used as collateral for a loan.

 

Each loan application the lender inquires about your credit. Many credit applications in a short period of time will affect your case. If you are denied, ask yourself why. Perhaps it would be best to wait until your situation improves before reapply.

 

Several other factors have an impact on your score. Your payment (late payment / omission), recovery measures (debt transferred to a collection agency), bankruptcy, existing debts … The credit report is a reflection of consumer habits.

 

This is why it is important to check your credit report

 

Getting the credit report is easy. Moreover, contrary to popular belief, the fact of asking for the file has no effect on the score. When you receive it, read it carefully and do not hesitate to make corrections if necessary. You will receive a form to this effect at the same time you get your file.