PRLog (Press Release) – Jul 05, 2011 – Many times credit scores are needlessly lowered through misun ni ssan GTR specification derstandings. There are three common misconceptions to dispel:
Misconception #1: Paying late didn't hurt my credit, since I'm caught up now.
Recent late payments are credit score killers, and being caught up does not change the fact that you paid late. Anything other than "paid as agreed" on accounts on your credit report hurts your score.
Misconception #2: Dollar amounts matter in credit scores.
It may seem intuitive to pay the highest bill Infiniti m hybird first, but dollar amounts do not matter in credit scoring; ratios and recency do. A late payment of $1 has the same effect as a $1,000 payment. The fewer late payments on your credit report, the higher the score – regardless of dollar amounts. Consumers should to try to pay all their bills on time, every time.
Misconception #3: Closing cred bmw M5 specification it card accounts always helps the score.
If you cancel a card, you may have lost your chance to increase your score by continuing to build on years of positi 2011 Chrysler 200 Convertible ve credit. Long-term positive account history can actually boost your score. It's best for your score to keep cards open and active, using them for small purchases. The next best tactic is to keep them open, with a plan to use them later to build your score back up.
Don't make a bad situation worse. In tough economic times, people often buy more on credit than they normally would. The amount they pay in interest on these purchases is largely determined by credit scores. Poor decisions that lower scores, combined with an already tight budget, can make money problems worse. Consumers need to get through these tough times with as little financial damage as possible.
Good credit is an important part of financial security and must be considered when making the best long-term decisions. Having the right 531276856 information is necessary to make sound choices – now more than ever.
-Article compiled and written by Eddie Johansson, president of Credit Security Group and provided as a public service by the Indiana Bankers Association
Get automobile news and garbage compactor
0 komentar:
Posting Komentar