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I want to inform about enhancing your credit history

Track your payment history

Your re payment history is considered the most factor that is important your credit history.

To enhance your re payment history:

  • constantly make your re re payments on time
  • make at least the minimum payment that you owe if you can’t pay the full amount
  • contact the lending company immediately if you were to think you’ll have difficulty having to pay a bill
  • do not skip a repayment just because a bill is with in dispute

Utilize credit wisely

Don’t get your credit limit over. If a credit is had by you card by having a $5,000 limitation, do not discuss that limit. Borrowing significantly more than the limit that is authorized a bank card can reduce your credit rating.

You will need to make use of significantly less than 35% of one’s available credit. It’s simpler to have a greater borrowing limit and use less from it every month.

  • credit cards by having a $5,000 restriction as well as a borrowing that is average of $1,000 equals a credit usage price of 20per cent
  • credit cards by having a $1,000 restriction as well as a normal borrowing quantity of $500 equals a credit use rate of 50%

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