Steps To Avoid Having Bad Credit
Your credit is an important part of your financial health. Lenders use your credit score to determine whether you qualify for a loan. Landlords may use your credit score to determine if you will make a good tenant. In order to secure a bright financial future, it is important that you take steps to avoid having bad credit.
Follow These Steps To Avoid Having Bad Credit:
•Pay your bills on time. Not only the most important, but the most effective way to avoid bad credit is to pay your bills on time. There are many reporting and monitoring agencies that alert the credit bureaus if you are late or delinquent on any payment. Late payments can cause your credit score to drop.
• Keep track of due dates by noting them in your calendar. You can even use technology–set reminders to help you remember each payment date.
• Do not max out your credit cards. Using your credit cards responsibly is a good way to build credit. Remember, hitting the limit on any of your cards will lower your credit score.
•Keep an eye on the available limit for each of your credit cards. Your credit card company can change your credit limit without notice.
•Build good credit. Having no credit can be almost as detrimental as having bad credit. You must actively take steps to build good credit. To do this, you need to have accounts and credit cards in your name. To get started, I recommend: First Progress Platinum Select MasterCard.
•Put some household items in your name. Paying the electric or cable bills on time can help you establish credit.
•Consider getting a secured credit card. Secured cards allow you to deposit an amount into an account and then you can charge up to that amount. Apply now for the First Progress Platinum Select MasterCard.
•Ask for a credit limit increase. You don’t need to spend more, but a higher amount will help your debt-credit ratio. Don’t be afraid to ask.
•Protect your identity. If your identity is stolen, your credit is at risk. Identity thieves can use your information to make fraudulent charges that can wreck your credit. Although identity theft can happen to anyone, you can take some steps to help prevent it from happening to you. A excellent service to consider is: Identity Force.
•Protect your personal information. Keep financial documents and important items such as your social security card locked in a safe.
•Do not share passwords. For all of your online transactions, make sure that you are the only one who can access your accounts. Change your passwords regularly.
•Use security software on all of your electronic devices.
•Auto-title loans are not a good idea, because the rates on these are usually very high. You could be putting yourself in a situation where you might have to forfeit your car.
•Certain automobile loans can also be very bad deals. If the interest is in double digits, or it will take you more than 5 years to pay back the loan, it is not a good loan. Keep looking for a better loan.
•Have a good resume. Lenders look for several factors when deciding what type of loan they will grant you. One thing lenders look for is that you have a history of reliable income. You will get a better loan rate by showing that you have worked at the same job for a number of years.
•By having solid job history can help you get loans and higher credit amounts on your cards.
In conclusion, always remember that paying attention to your credit rating and avoiding bad credit behaviors will go a very long way toward raising your credit score and improving your overall credit health. If you have any questions, do not hesitate to contact me. I will get back with you as soon as I can. Please apply these Steps to Avoid Having Bad Credit, they do work! If you have any steps to avoid having bad credit, you would like to contribute, I would love to hear from you.