Your credit report, when showed to banks and lenders will reflect yourself. Even if you didn’t mean to leave those marks on it, they will still think that it’s your fault. That is why having a clean report is very important. Your report will determine whether you are worthy enough for a loan from banks or lenders. Your credit will show income to debt ratio, delinquencies, issues about your credit and even late payments. So if you are planning to cover or clean up your account, the better. Good thing there are simple ways for you to clean it. We give you the best tips in order to keep your credit report clean.
1. Routine checking- Your credit reports need to be maintained and taken care of. It’s not something that will just clean itself and give you a remarkable record. It needs to be checked, if possible every 3 or 4 months to keep you updated with all the transactions, even the fishy ones. Just get your free credit report every year from the big credit agencies. You’ll also be updated with late payments, or exceeded limits. Check it for errors and if there are any, file a dispute immediately to your credit bureau to remove them from your report. These errors can affect future transaction and can make you look bad in the eyes of the lenders.
2. Pay regularly and on time- Paying on time will keep your credit score up and prevent bad records from coming in your record. Missed payments will stay on your credit report for 7 years or more and they are very hard to remove so it pays to show a little effort when it comes to your bills. Also, try to pay for more than what is required, it’ll help give you a boost and you’ll be able to finish off your balances faster than the usual.
3. Make a budget- Making a budget will help you stay within your limit. Exceeding limits is another no-no when it comes to maintaining your credit report. You’ll know when enough is enough with a budget. You will also know when to use your card and when to pay for cash, that way you will be able to stay 20-30% below the limit.
Again, your credit will reflect how you do the works, be it business or personal matters. A clean credit report will get you through banks, lenders or even companies easily.
Get your credit report and credit scores now and check for any errors, discrepancy, identity theft or bad credit. To keep your credit score high, it is important to keep a track on the 3 bureau credit report regularly.