6 Ideas for Building a Good Credit Reputation

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6 Ideas for Building a Good Credit Reputation

• By NewHorizon.Org

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How to Build a Good Credit Reputation

• 1st - Order your credit reports on a regular
  basis.

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• It is important that you order copies of your
  credit report at least every six months can have
  the chance to examine your credit file and look
  for the root cause of your poor credit standing.

• Examining your credit report will help you
  realize what went wrong with the way you manage
  your personal finances. This way, you can avoid
  committing the same mistakes that caused you to
  have credit problems in the first place.

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• Requesting your credit report and examining it
  will also give you the opportunity to detect when
  a fraudster has gained access to your credit
  accounts.

• This way, you can report this problem to the
  authorities immediately, and not be held
  responsible for transactions you didnt make.

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• 2nd - Dispute errors in your credit files

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• An erroneous entry can also inflict severe damage
  to your credit history. As such, it is very
  important that you dispute misleading and
  outdated records in your credit file.

• To do this, you need to come up with a business
  letter in which you will list all the inaccurate
  details that you have observed in your credit
  report. Then, ask the personnel of the credit
  bureaus to make the necessary adjustments to your
  credit report.

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• By doing this, you can cause drastic improvements
  to your bad credit score, and can have the
  assurance that your credit file will be accurate
  all the time.

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• 3rd - Pay your obligations on time

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• Responsible credit habits involve paying your
  financial obligations on time and in full each
  month. This is a very important step if you
  intend to maintain a low level of debt,

• and for you to avoid paying additional fees in
  the form of late payment penalties and huge
  interest charges.

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• 4th - Do not max out your credit cards

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• As much as possible, just use a third of your
  available credit limit. Never max out your credit
  cards or else your credit balance will balloon
  out, and you will be asked to shell out cash on
  overdraft charges.

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• 5th - Never close your oldest accounts

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• If you intend to close one of your plastic cards
  so you can manage your personal finances more
  responsibly, make sure that you choose your
  newest accounts first. Never close your oldest
  credit cards, or else you will lose the perk of
  maintaining a high credit limit.

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• 6th Lastly, talk to a professional

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• If you find it difficult to build a strong credit
  reputation on your own, then we suggest that you
  visit the office of a financial adviser and ask
  for professional advice on how you can deal with
  your financial obligations.

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A certified credit counselor will be happy to
help you find a suitable debt management program
that you can use to pay off your outstanding
debts.

• By following the advice of the financial adviser
  very closely, we guarantee that you can push your
  bad credit score up until a time that you can
  build a strong credit profile.

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Source http//www.newhorizon.org/credit-info/6-ti
ps-for-building-a-strong-credit-reputation/
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