Bad Credit Or Good Credit

What Is Credit

the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.

what is Good Credit and Bad Credit

Good credit signs

  • Pay at least the minimum required payment
  • Pay on time
  • dont miss a payment
  • Stay in your credit limit

Bad credit signs

  • Pay too little
  • Pay too late
  • Miss payments
  • Going over yo credit limit
  • too much debt
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Take These Steps to Improve Your Credit Score

  • Pay yo bills on time. bad payments and collections can have a major negative
  • impact on a credit score.
  • Keepin balance low on credit cards and other "revolving credit." ...
  • open new credit accounts only as needed. ...
  • Pay off debt rather than moving it around.
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Simple Ways to Improve Your Credit Score

To maintain a good credit history, try practicing the following guidelines:

  • Pay at least the minimum payment due–on time, every month.
  • Don’t overextend yourself. fewer accounts you have open if they are loans or credit cards–the better.
  • Don’t spend money now that you hope to make later.
  • Avoid transferring balances unless you’re getting a better interest rate.
  • Notify creditors when you move so that bills arrive on time and your payments wont never late. Even if you don’t get your bill, you still owe the payment. If your due date is coming up and you haven’t received a statement, call the Customer Service number located on your credit card or previous statement. Customer Service can tell you your minimum payment due and where to send the check.
  • Check your credit report at least once a year to make sure it’s accurate. Serious errors can appear in a credit report at any given time, and can cause credit to be denied. The sooner you spot an error, the faster you’ll be able to correct it.
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3 habits to ruin Good credit

1. You run up a large balance on your credit cards (even if you pay it off every month).

2. You assume your spouse’s credit actions have nothing to do with yours

3. You close or open several credit card accounts at once.

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