MAINTAINING A GOOD CREDIT SCORE
Do you have a good credit score? If you do, i’m sure you’d like to keep it that way. There are a few simple things to bear in mind when you are maintaining your credit score. Some of them may seem too simple to even mention, but life is sometimes just distracting enough to make you forget about your credit score completely. Don’t fall into this bad habit. Maintaining your good credit is a matter of discipline.
1) Remember to make bill payments on time. This is crucial to keeping your credit score safe. The reason for this is that lenders know your credit history and will more than likely loan you the money requested as you will be in the position to pay back. If you have had problems remembering when to pay bills before they are due, write them on the calendar every month. A simple reminder may be just what you need to help get those payments in on time.
2) Try paying online if you cannot meet the deadline by paying via check. Many companies accept payment through the Internet. This method can prove to be very useful if you are traveling.
3) If you do not have the required cash to pay your bills and the due date is approaching, then you can talk to your credit card company and set your own due date for payment. Set the due date at a time when your salary arrives, hence, enabling you to pay your bills without late fees.
4) If you have a good credit score, but can foresee rougher roads ahead, maybe you should consider debt consolidation. This is a way to combine all of your bills into one payment that is distributed amongst the credit card companies that need to be paid. No longer do you have to consider how much to pay and when to pay to whom. Creditors see this as being very responsible and it will most definitely improve your score or maintain an already satisfactory one.
5) Maintaining a good relationship with a bank over time will reflect positively when it comes to building good credit. Keeping a positive balance shows that you are capable of managing your finances well enough to have extra money to put into a savings. This will increase your chances of being accepted for a loan from this particular institution as well because they have a record of your loyalty to them and ability to make payments.
Most people plan at some point in life to own their own home or purchase a new car. It is not common that even a responsible person is not able to pay many thousands of dollars in cash for these big ticket items, which is where discipline and effort will be necessary to maintain a stable and good credit rating.
June 2nd, 2009
Hi, good post. I have been wondering about this issue,so thanks for posting. I’ll definitely be coming back to your site.
July 7th, 2009
It’s a pity that people don’t realize the importance of this information. Thanks for posing it.