J
jdragunas
Guest
OK, i was thinking, and i thought that it would be a great idea for everyone to share a "how to" with everyone else. This can be about anything in life... how to get out of a parking ticket, how to cheat on your tax returns, how to... you get the jist
HOW TO GET GOOD CREDIT
There are three simple steps to this.
1. Never make a late payment on any account. To the credit bureau, a payment is considered "late" if it is made 30 days after it's due. So if your credit card payment is due on September 1st, and you don't make the payment until Ocober 3rd, that's a "late" payment. However, if you make the payment on September 29th, that's not considered "late".
2. Don't overextend your credit. The rule of thumb, is that on a revolving line (meaning a line where you can continue to use the credit, prime example being a credit card), your balance should be less than or equal to 50% of your credit limit. Anything over that implies that you're low on money, and you NEED the credit. This shows bad money management skills.
3. Don't have too many pulls on your credit report. It's ok for someone to pull your credit every once in a while, but if you allow multiple pulls (this mainly means credit card applications), it shows you are desperate for credit, and will in turn cause your credit score to drop.
I have learned this after many years in the
[hr]
industry, and thought it would be helpful for those of you who don't know what affects your credit.
Anyone else have a "HOW TO" to share with us? Please label the title of your section with caps, at the top of the post, for a quick reference guide. Hopefully we'll get a lot of insight, as many people on here are in different fields of work, and have different expertices (sp?).
Jenn
HOW TO GET GOOD CREDIT
There are three simple steps to this.
1. Never make a late payment on any account. To the credit bureau, a payment is considered "late" if it is made 30 days after it's due. So if your credit card payment is due on September 1st, and you don't make the payment until Ocober 3rd, that's a "late" payment. However, if you make the payment on September 29th, that's not considered "late".
2. Don't overextend your credit. The rule of thumb, is that on a revolving line (meaning a line where you can continue to use the credit, prime example being a credit card), your balance should be less than or equal to 50% of your credit limit. Anything over that implies that you're low on money, and you NEED the credit. This shows bad money management skills.
3. Don't have too many pulls on your credit report. It's ok for someone to pull your credit every once in a while, but if you allow multiple pulls (this mainly means credit card applications), it shows you are desperate for credit, and will in turn cause your credit score to drop.
I have learned this after many years in the
[hr]
industry, and thought it would be helpful for those of you who don't know what affects your credit.
Anyone else have a "HOW TO" to share with us? Please label the title of your section with caps, at the top of the post, for a quick reference guide. Hopefully we'll get a lot of insight, as many people on here are in different fields of work, and have different expertices (sp?).
Jenn
