Credit Is A Powerful Tool
Yourcredit score is the biggest tool you will ever have when it comes to yourfinances.
No matter how much money youhave in the bank, if you have bad credit, it will cost you thousands of dollarsif you plan to make a big purchase.
Itmay even be the determining factor to whether you can make that purchase ornot.
If your credit score is too low,banks will not lend you money.
Goodcredit on the other hand, can aid you in making all of those purchases youdream of.
If youpay your bills on time consistently month after month, you will have goodcredit.
Let me say that again, payingyour bills on time every month will give you good credit.
Good credit is the key to getting the banksto loan you the money you need for big dollar purchases.
If you havepoor credit and would like to build credit in order to make a big purchase inthe future, there are a two things that will speed up the process.
Checkyour credit report for errors.
This should be done each andevery year to ensure everything is correct.
You may get a free credit report at annualcreditreport.
You will have the choice to get all three ofthe major credit bureau reports or just one.
The best option here is to just take one of them for now, so that ifthere are no errors you can check with the other two credit bureaus later inthe year.
Many people do not realizethat this is an option for them.
It is agreat way to check your credit report every four months for free.
If there are errors in this credit report, itis most likely that there are errors on the other two credit bureau reports aswell.
Go ahead and order the other twoand submit your corrections to them.
Detailed information about how to contact them can be found on theirsite.
If everything looks correct, youcan come back and choose one of the other credit bureaus in about 4 months tocheck it again.
If you don't knowyourcredit score (FICO), go ahead andpay the fee to see what it is.
This willhelp you when measuring your progress in the months to come Startpaying your bills on time.
No matter how you have paid yourbills in the past, start making it a top priority to get them paid ontime.
Look over your bills due regularlyto make sure you haven't missed one.
Geta pocket calendar and write down the due dates and minimum payment amounts fora quick and easy reference.
Paying yourbills on time is the first step in having good credit.
One late payment will send you right back towhere you started, with poor credit.
After a few months of paying your bills on time, you will start toreceive offers for credit.
Ignore theseas better offers will come if you do.
You don't want to tap yourself out on credit limits just because youcan.
The twosteps above are just the first steps in fixing poor credit, but are necessaryif you want to have the advantages that comes along with good credit.
No matter how much money youhave in the bank, if you have bad credit, it will cost you thousands of dollarsif you plan to make a big purchase.
Itmay even be the determining factor to whether you can make that purchase ornot.
If your credit score is too low,banks will not lend you money.
Goodcredit on the other hand, can aid you in making all of those purchases youdream of.
If youpay your bills on time consistently month after month, you will have goodcredit.
Let me say that again, payingyour bills on time every month will give you good credit.
Good credit is the key to getting the banksto loan you the money you need for big dollar purchases.
If you havepoor credit and would like to build credit in order to make a big purchase inthe future, there are a two things that will speed up the process.
Checkyour credit report for errors.
This should be done each andevery year to ensure everything is correct.
You may get a free credit report at annualcreditreport.
You will have the choice to get all three ofthe major credit bureau reports or just one.
The best option here is to just take one of them for now, so that ifthere are no errors you can check with the other two credit bureaus later inthe year.
Many people do not realizethat this is an option for them.
It is agreat way to check your credit report every four months for free.
If there are errors in this credit report, itis most likely that there are errors on the other two credit bureau reports aswell.
Go ahead and order the other twoand submit your corrections to them.
Detailed information about how to contact them can be found on theirsite.
If everything looks correct, youcan come back and choose one of the other credit bureaus in about 4 months tocheck it again.
If you don't knowyourcredit score (FICO), go ahead andpay the fee to see what it is.
This willhelp you when measuring your progress in the months to come Startpaying your bills on time.
No matter how you have paid yourbills in the past, start making it a top priority to get them paid ontime.
Look over your bills due regularlyto make sure you haven't missed one.
Geta pocket calendar and write down the due dates and minimum payment amounts fora quick and easy reference.
Paying yourbills on time is the first step in having good credit.
One late payment will send you right back towhere you started, with poor credit.
After a few months of paying your bills on time, you will start toreceive offers for credit.
Ignore theseas better offers will come if you do.
You don't want to tap yourself out on credit limits just because youcan.
The twosteps above are just the first steps in fixing poor credit, but are necessaryif you want to have the advantages that comes along with good credit.
