Fix Credit Score by paying Bills On Time

If you want to fix your credit score and would like to have a better FICO report,you shall be careful about the bills that are in due.Paying a single bill late can cost you a lot in terms of three digit magic number and all your previous efforts to improve it will go in vain.This negative affect of late payment of a loan will be more evident when you are all ready having a good score.For the lenders a late payment is a good indicator that you are in financial trouble.They don't want to risk their own money by offering a new loan that you have asked for.Thus your new loan application will be rejected or asked to pay high interest rate.

Payment history make more than one third of credit score and hence paying the dues every time on time is very much needed.In general a one or two day delay is not going to matter you seriously.In most of the cases a thirty day delay will be informed to the agencies by the creditors.But a one or two days delay will attract late payment fee and you may need to pay extra and increased interest rate money.You need to know that creditor take it as late payment if they are unable to get it on time that is in general 1 PM on the payment date.

One late payment can cost you a lot.Your credit card companies and insurers periodically review their interest rates.Your bad credit report can put you in high interest rate bracket and it will make your pocket thin.It is your responsibility to pay the bills on time and the creditor need to report you and remind you frequently.Even if you have not got the bill,it is your responsibility to check and pay and if not late payment will be reported to the agency.So checking the dues will keep you know even about identity theft.

To over come all this problems.You shall note down all the payment dates of the bills and keep track of them.This could be monthly bills or quarterly bills.You can note them down in a paper or electronic calender and have a reminder in your mobile phone.This will keep you remembering the things and payment won't be late.

You can also automatic bill payments from your bank account.This will save your energy and time as well as no problem of late payments.Lenders or banks directly collect money from your account and send you information regarding it.You shall not worry that the lenders is accessing your account and knowing your financial details.This is not the truth and he only get the money from the account and he will not the statement of your account.The law prohibits the lenders to take extra money from your account and you need not worry about that too.You can have a bit of extra money in your account and can also take over draft facility.This save you from a missing bill or not having the money in the account.


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You can automate the bill payment process even through credit card.The wrong bill collection problems can be even solved in this case with the help of credit card company.For this you need to pay your card bill every month on time to protect your interest rate.You can also pay your small bills with this card to avoid big monthly bills.

You can also register your self for each company and pay the bills online.Many companies even give you safety over hacking and discount in bill.It is because it will save their bill with less number of offices and employees.

The other simple option is pay the bills as they come in.Then you need not worry about reminders or missing them.But every time a new bill comes,you have to spare your time to attend it and pay it.

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