Credit Card Payment Offers 2018 275 views
Many of you will surely agree on the fact that for not just credit cards, but in real life also it’s great to set the goals. Once you know the priorities of your life, it becomes easy for you to get the lasting success as well as happiness. And, this statement is completely true in case of credit cards. When it comes to credit cards, it takes lot of time and patience to create a good credit score. If you have ever applied for credit card, you must be aware with the fact that how crucial your credit score i.e. these three-digit figures are.
Moreover, the higher credit score you have, there are more chances of you to avail the best interest rates. And, the lower credit score you have, the more interest you will pay to the lender. Not only this, in fact if your score is quite low, you will not meet the eligibility criteria of different banks/lenders.
More to the point, with rise in demand of credit cards because of their unmatched features and advantages, there is no denying on the fact that not only one, but many people are interested in applying for credit cards. However, not only this, those who already own the one are looking for effective ways to improve their credit score.
Furthermore, a credit score is nothing but a number that usually lies between 300 and 900, depending on the various factors or parameters. The higher your credit score is, the more advantages you will get.
However, one thing that needs to be mentioned here is the fact that many people usually have one question in their mind i.e.-is it really mandatory to have a perfect score? Well, the answer is NO! In fact, sometimes in order to achieve the perfection, people cause damage to their profile, if not paid attention.
More to the point, actually, the banks or lenders don’t look for perfection. The only thing they look for is a good credit risk. Yes, despite of looking for a borrower who can pay his loan back on time, the lenders want good credit risk. Furthermore, if you have a credit score greater than 800, you will be able to get good interest rates.
But, having a good credit score is something which is not everyone’s cup of tea. There are certain important things that you need to take care so as to maintain a high credit score. So, take a look below to know about the seven important tips that will help you to get a good credit score:
Always Pay Your Bills on Time
Yes, it is absolutely important to maintain a good payment history because it is the only important factor that affect your credit score, nearly approx 35%. If you want your credit score to be perfect, no doubt paying bills on time can increase your credit score.
Keep an Eye on Your Credit Card Balance
You should always aware of your credit card balance as it can create a drastic impact on your credit score. Always try to use only 50% of your credit card limit to have a good credit score. Actually, the proportion of your balances in relation to your credit card limits can affect your credit score tremendously.
Apply for Credit Only When You Need
Always try to apply for a credit, when there is an urgent need. Too many fault inquiries in a short period of time can affect your credit score in a negative manner. Only go for a credit, when there is a need from your end.
Spend Within Your Income
Whenever you apply for a credit, it is you who need to decide whether you will be able to actually afford it or not. One should always spend within his income or earnings as this thing will help you from overspending. Over a period of time, this thing will help you to have a solid or good credit history.
Have Different Kinds of Credit
Having different kinds of credits can actually help you in attaining a good credit score. But, you just not need to have different credits, you need to maintain and manage them equally well as lenders love to see that. Through this way, you can increase your chances of having a good credit score.
Look Up for Long Standing Credit
Pay attention towards getting the long standing credit because the longer credit you have, the older your account gets, which is ultimately better for your credit score. To have a credit score, it is important to have stability in your credit history.
Keep Track Regularly
Always keep a track of your progress. When it comes to having a good credit score, consistency is the key. You need to check your credit score regularly so as to always keep a track of where you are lacking. Through this way you can improve on the weaker areas, and increase your credit score.
So, keep these above tips or tricks in mind to join the 800+credit club.