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Pay Debts Blog
Want to get out of debt, consolidate your debt, get a better loan or just learn some top money and debt rescue tips? We have financial advice here that will help you achieve your dream of being debt free. Absorb all the info on blog and join our site for articles and tips Consolidate Debts LoansPermanent link: How to build a strong credit rating? (Part3)
How to build a strong credit rating? (Part3)
Do I really have to have a credit card? I've had trouble controlling my spending in the past, and so prefer not to have the temptation. If you've been burned by credit card debt and are reluctant to carry a card again, consider setting up automatic monthly charges to your card's account for regular, recurring bills such as your council tax or your phone. (Incidentally, some companies will give you a discount of up to 5% a years for switching to direct debit to pay them) Now, hide the demon credit card away where so it's not a temptation. That way you will start building a good credit history. Although they have their dangers, credit cards is still the easiest way to establish a good credit history and score unfortunately. It can be difficult to get a loan anywhere including a mortgage if you don't have a documented credit history and provable score. You don't have to use your cards much to improve your credit rating, or incur interest charges by carrying a balance. Banks and other lending institutions, especially those that don't know you as a long-time customer, just want some evidence that you can handle credit responsibly and debt (Making you a "known" quantity). The sooner you get started the better, especially if you are currently renting but plan to buy a house in the near future. Never be late with tax return or business accounts, if you pay on time, every time you will get a name as a good person to lend to and as trustworthy and responsible. If at any time you are having problems paying any bill, contact the company as soon as you can and try to agree terms maybe they will be able to even offers you a temporary payment holiday. This is preferable to going on record as being a bad payer or debtor - don't you agree? Technorati Tags: Consolidate Your Debt; part 2Posted by Admin at 2006-08-24 08:24, Home
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