Credit is the key word in today's homes, news and businesses.
We have to study our credit reports and know our credit scores.
For the government, it's the country's economy.
For businesses, it makes or breaks it.
For individuals, we need to rely on credit for our house or car mortgage, personal loans and good interest rates for insurance and balance transfers.
Here are some tips to get or maintain a good credit score: 1.
Keep an eye on your credit report and take note of irregularities Credit Bureaus give you access to free credit reports every year, so take advantage of this.
You should be vigilant in keeping track of any financial activities in your account, and in case there are any irregularities or fraudulent activities, you will see it here.
Anything that can affect your credit score should be looked into.
Also, this is the reality of your credit score, and you will see what you're doing to keep it well-maintained or what you could be doing to bring it down.
2.
Don't let your credit balance pile up-pay on time This is the rule when it comes to our best friend, the plastic card - charge as little as 10% and limit yourself to charging up to 30% of your total credit limit only.
When your balance goes over that point, that's when the trouble starts.
If this happens it is best to pay more than the minimum required.
Also, a very important thing that many people don't do is pay on time.
This saves you from interest or late fees piling up and your credit record looking worse as time goes by.
3.
Keeping the business relationship with your credit bank well-maintained Keeping an account with a bank for a long period of time shows stability gives you a better credit score.
Being able to maintain an account with a bank and regularly updating it makes you and your credit score look good.