We talk and hear a lot about the credit record , but few know what are the best tips to maintain a good credit history.
We all want to have a good credit record , because it opens the doors to several opportunities, especially in the personal financial field.
What is the credit record?
Your credit record is, basically, the rating you have in the financial system.
From premiums to first, the credit record is a personal presentation letter to financial institutions. This history speaks for you and gives the first impression before applying for a loan.
Your qualification in the system allows every financial institution to know the capacity you have to assume one or several debts.
It also records the responsibility you have had in meeting the payments of other loans, credit cards, or services such as electricity, telephone and water.
How to maintain a good credit history?
Believe it or not, having a good credit record is as easy as paying on time and in cash each of your debts.
Keep an alarm or alert that tells you when your payment date is, how much you should pay and issues a payment greater than the minimum.
Some people find this difficult because having more than one debt depends on the payments of each of them to balance the monthly budget.
A good solution when you have many debts and visualize that this will affect your budget, is to consolidate your debts. With this, you will reduce the monthly interest, as well as the amount of the debt that you currently cancel.
Tips to have a “positive” record
There are some basic tips or tips that you can not stop practicing to have your 100% credit record. Take them into account and put them into practice!
- Keep a record of your debts: In this record you must indicate what is the total amount of your debt, how much you must pay monthly and what is the date of payment.
- Pay more than the minimum: If you are paying the minimum of your debts month to month, then you will not be able to pay them off soon. Make extraordinary contributions or consolidate your debts. Remember that if you have the opportunity to contribute to capital, you should not let it pass. This will help you decrease accrued interest.
- Never apply for a loan that you can not repay. It is extremely important that you take your salary and job stability into account before asking for a loan. Help yourself by requesting a real and useful amount to improve your economic situation, not to harm you.
- Change your attitude towards your debts: Paying a debt is also a personal challenge and a demonstration of discipline, responsibility and punctuality.
Apply these tips as commandments of discipline for the payment of your debts and thus you will obtain a positive credit record.