|
Pay On Time |
Pay Credit Cards Off |
|
Paying on time is the most vital ingredient of your credit score. Your payment history on your credit health report amounts to almost 35 percent of your total score. Even paying an account one day late is recorded and negatively affects your score. Prevention is better than cure, so set up debit orders and postdate payments you make online to avoid falling behind. Remember to be consistent with your payments.
|
Credit cards provide instant gratification, but if they're not managed properly, they can provide long-term pain. Control of your credit card is an indicator for how you will manage any future credit, so make regular payments on it and keep the balances as low as possible. This way, you'll be perceived as someone who manages their debt responsibly. |
| Don't End Up In Court |
The Enemy Is Debt Ratio |
| Want to have your credit record irreparable for up to five to eight years? Didn't think so. Avoid ending up in court for a continued lack of non-payments at all costs. |
Up to 30 percent of your Credit Health Score is made up from your debt ratio, which is the difference between what you owe, combined with your credit limit. Creditors like that gap to be as wide as possible. Tackle debt with the highest interest ratio first, and kill all debt that is reaching the maximum limit. |
| Close Idle Lines Of Credit |
Keep Credit Enquiries Few And Far Between |
| The fewer lines of credit you have, the less risky you appear to creditors. If you don't use it, lose it. Close all unused credit cards and accounts. Instruct your creditors to inform the credit bureaus that you closed the account and not them. |
There's no need to rack up your list of enquiries, so it's in your best interest and that of your Credit Health Score to only make an enquiry for credit if it is absolutely necessary. Every enquiry you make is recorded on your credit history. If there are too many accumulated together, along with bad debt, then it is a sure indicator of financial trouble or mismanagement of accounts.
|
|
Avoid Credit Record Agencies
|
Credit History |
| Why pay someone to repair your credit record when you can easily do it yourself? Your Credit Health Action Plan is filled with healthy tips to improve your Credit Health Score and its included for no addtional costs in your Credit Healh Report. |
Too much debt counts against, but so does too little debt, so find a healthy medium as the duration of your credit history can make up to 15 percent of your Credit Health Score. Your credit history gives an indication to the credit provider of your ability to service long-term debts. |
| Obtain A Copy Of Your Credit Health Report And Look For Errors |
|
| Would you believe that often your Credit Health Report will contain errors? Often these errors are a result of identity theft, which is a common and dangerous problem. Order your Credit Health Report now and make sure that your credit history is correct and up to date. |
|