How To Maintain A Good Personal Credit Rating

In today world without a good credit rating it is impossible to function. Everywhere you go the question is always the same, do you have a credit card? A credit card is like a gun to the cowboys in the wild wild west. With out any type of credit you will not be able tosurive. But once you have credit then the work comes. You have to maintain that good rating. A good rating is like having a name that people trust.

The first thing that you need to do is to make purchase that you can afford to repay. Try not to buy things just becuase they look good, but come the end of the month you won't be able to pay for it. The next thing is to make purchases that are within your credit limit. The bank has set this limit based on your past experience.

The other thing to do is pay the bill when it comes. Try to pay at least the minunim amount. If you can afford to pay more pay it, it would help you later on with your credit rating.



Try not to send checks that are going to bounce. This looks very bad and some banks can cancel your account for this, also it is illegal.

If you have some reason why you can't pay on your account, try to contact your bank to make other payment arrangement. The bank would love you for this because it show responsiblity.

When you use credit you have made a pledge to the bank that you are going to pay your debt once you get the bill. So it is important to think of your credit card as cash.

So by making regular payments on time, by staying within your credit line, by not paying with bounced check you are going to maintain a good rating.

Some of the benefits of a good credit rating is increase line of credit and more creidt from different lenders.

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