We shall build,establish a good credit report and the next step is to keep the good work going.Once you start caring about your financial problems and taking correct measures,in two years you can establish back your credit score.Before getting a new credit you shall cross the ability to pay them back.Make sure that your job is secure,you have a regular income and your debts is in your control.
In most of the cases bad credit is due to excessive spending.You are impulsive and emotional in spending and it is not in your control.This leads you to a kind of situation where you can not pay your bills.This automatically leads to bad credit report.Thus you shall plan about controlling the expenditures and get back the things into control.Chaining the way you live and you spend is not easy but you shall try your best to do this.
In the present day world,the style of living is encouraging us to spend a lot of money that we may not able to effort.As the credit system is available like credit cards,we think less about its need and spend the money.This has to be controlled.
You shall learn in living simplicity.We shall cut down our money spending and check yourself about the need of any particular spending.
You shall build and establish credit on your own name.Your spouse record appear in your credit report when you are having a joint account or you have accepted to pay part of your partners commitments.Other wise they are not going to be reported in your financial report.So you need not worry that your partners negative history affect your score.This happens only in the above mentioned cases.
Any way if your spouse is having a good credit worthiness,you can ask the lender to consider the partners record to get the loan approvals.If you have paid some bills with your wife in a joint account,you can ask the consider to consider this.
Get your credit cards and be careful in using them.You shall use wisely and get the best benefit out of them.It shall not put in debt trouble but shall establish a good credit report for you.Once you use this card for small things like a phone bill or gas bill regularly on time,your credit worthiness will increase.This will stay back on your report for a long 24 months and give your advantage.This is the simplest way of establishing your credit.
You need to get a credit card to establish credit history.You can apply for the one.While you are appling for a new card,give them correct information.Always apply with the same name.You can take the advantage of pre approved credit cards like shop owners cards,cards on saving accounts etc.Be honest and sincere in giving information.You can tell the real truth like job loss as the reason for bad credit.If you are married and your wife is having a good credit record then you can apply for a joint credit card.Approval of this kind will be easier .
You shall be living in the present place for an year and you are working with a regular income.This are the basic conditions to get a card.Apply for that when you are satisfying this conditions.
While accepting the card look for the interest rate.It shall not be too high.You shall check for annual percentage rage and it shall be reasonable.Having a low introductory rates but further high interest rates after that is going to cost you more and you shall avoid that kind of offers.You also shall review the grace period.In general it will be a month to 45 days.
You have to pay very high for cash withdrawals and credit card shall not be used for that porous.
(Photo source : http://www.flickr.com/photos/pexpix/3188196398/)
When ever there is a change in the address inform the lender.
Ask for more limit when it is needed.
Take steps to protect your card.
Do not give your credit card numbers to some one over the phone unless you called to a known person.
Related Posts:
Source to get money and pay bills to improve credit scoreNegative affect of closing account on credit score
Credit Score misconceptions and real truths
No comments:
Post a Comment