8 tricks for excellent credit history
When I just started reading and researching financial issues, I was trembling with the words credit history. I am sure that many of you can identify with this experience.
With time I learned that it is nothing from the other world to have a good track record, but it is very important to give the care you need. That way you will be the most benefited. That is why I decided to meet with several of my coworkers to ask them the best tricks to have an excellent track record. Take note.
1. To get started
When I got my first card I decided to start with the most basic of all. I recommend you research in different banks on the simplest ones. The one I took out did not charge commissions or annuity, which helped me a lot to start from scratch on the right foot.
2. Be on time
Always, you always have to pay on time. It sounds easy but it is not. Do not leave your debts for tomorrow and terminal as soon as you can.
3. Pay your total balance
When reviewing the statement, it can be very tempting to pay the minimum balance of your credit card before the deadline. Do not do it, you better choose to pay the total balance. What happens if you pay the minimum balance is that you accumulate the total plus interest; and in addition to adding to the expenses that you will surely have the following month, if you do not pay on time your delay will be reported to Buro.
4. Blocking service
When you take out a card they check your credit history. Once I have the credit I need, I hire the Bureau blocking service. This is because every one who asks you for your rating can go down, so I try to consult me only when necessary. But waters, even if a bank can’t consult you, it can still report you if you don’t pay on time.
5. You don’t need so many cards
The basic thing to keep a good rating in Bureau or Circle of Credit is not having many open cards. More cards means more queries for your history, more institutions that report to you, lower qualifications and higher probability of borrowing.
6. Cancel unused cards
Sometimes we have stored credit cards in zeros that we never use. What many people do not know is that these banks can report you even if you don’t take them out of the wallet, because an unused card can be a red focus for those who check your history.
7. Don’t spend more than you earn
Something very important is that we have to be aware of the flow between our income and expenses. Use your money wisely and try to avoid emotional purchases that will not have long-term value. Enjoy your money with measure and do not spend more than you earn.
8. Pay attention to debts on your cell phone
Did you know that telephone companies also report to the Credit Bureau? To take care of your credit history, do not forget to pay attention to the necessary payments of your cell phone service.
Take note of these tricks. Don’t forget that having a good credit history is essential for when you need a loan. If you already have a good bureau rating, ask for your loan today at WellLife Finance.