Is not made a payment of credit card? If you have made your payments on time for over a year, you can call the company to ask them to remove late payment information in your statement. You may be able to ask the same to other creditors, just ask.
Whether you apply for a credit card or a loan to buy a home, maintain a good credit rating will help make your life less complicated.
Seven tips for maintaining a good credit rating:
- Get a free copy of your credit report once a year and make sure it contains no errors. Sometimes credit reports have inaccurate information and this can happen to you. But you can be aware of its report to get a free copy from each credit bureau at the site AnnualCreditReport.com (English text). If you find any errors, correct and improve your credit rating.
- Avoid interest: pay your balance in full each month. If you make only the minimum monthly payment, pay more in interest each month and always end up paying much more than they borrowed. If you can not pay the full balance, pay as much as possible. And first pay off the credit cards or loans that are charging a higher interest rate. Use this calculator (English text) to find out how long it will take to repay their loans.
- Avoid late fees, always pay on time. If you pay your car loan, and mortgage on time studies, will be establishing a good credit history and avoid the late fees (up to $ 30) and interest rates higher. You do not want to make your payments late. Even if you pay a small amount, make payments on time each month. If you are late more than 30 days to make payment, the company will send a negative report to credit bureau. Your credit rating may be reduced by up to 100 points if you do not make your payments on time.
- Do not cancel credit cards has been a long time. The longer you have had credit, the more points you will.
- Do not ask too many loans, credit cards or cell phones. If you have too many loans, the more likely that it can only make the minimum payment each month and more difficult to pay in full. Your credit score will drop 3 to 5 points every time you apply for credit or loan. This may prevent you getting a loan to buy a home in the future.
- If you need a credit card, try to find the best offer before applying. Many credit cards charge no annual fee and many offer rewards such as rebates when you use your card or travel discounts. Try to get a card with an interest rate of less than 15 percent. And compare the charges of making late payments and going over your spending limit.
- Beware of scams . There is no easy way out of debt and establish a good credit history. Do not be fooled. But you can achieve financial independence if they work hard and get some free help from credit counselors .