Credit
Having Credit
Credit
What is Credit?
Reasons To Have/Maintain Good Credit
Starting a Business
- Starting a business and need a business loan your credit score and history will factor into your eligibility for small business financing.
- Buying a car
- Buying a House
- Getting a Job
Credit Score
A credit score is a three digit number calculated from your data-rich credit report and is one factor used by lenders to determine your credit worthiness for a loan or credit card. Its Important to have credit score because history determines what loans you will qualify for and the interest rate you will pay.
Ways to Maintain a Good Credit Score
- Know what goes into a good credit score.
- Pay your bills on time.
- Keep your credit card balances low.
- Manage your debt.
- Don't close old credit cards.
- Limit your applications for new credit.
- Watch your credit report.
- A long credit history will help your score.
Ways to Improve a Credit Score
Steps to Improve Your Credit Score
- Pay your bills on time..
- Keep balances low on credit cards and other "revolving credit."
- Apply for and open new credit accounts only as needed.
- Pay off debt rather than moving it around.
Great Credit Score // Bad Credit Score
The best credit score you can get is from 760-850 as you may see in the picture below color green. Bad credit score is between 300-619 (in red). In the picture below it shows the credit score from poor to average to excellent.
Habit #1
Having a good history long history.
Habit #2
Always pay on time.
Habit #3
Having a steady job.