Tips to maintain your credit scores and make it worthy
Tips to maintain your credit scores and make it worthy:
- One of the prime things to keep your credit scores sound and healthy is to make payments on time and in full.
- Do not extend your credit beyond the limits. Do not get tempted with the emails offering credit. They can do more destruction rather than slight construction.
- If you have an overdue bill, pay it at the priority. Sometimes, financial problems do happen in a month. Do not leave the bills unattended. Talk to your creditors and arrange for a payment plan then and there. Lenders may become flexible based on your concern to pay the debt.
- Look at the type of credit you are using. If it is from a financial company, it can actually hurt your credit scoring system.
- Outstanding debt should be kept to the possible minimum point. If you are nearing your credit limit, you are possibly damaging your financial identity in front of the future lenders.
- Inquiries from credit card companies lower your scores. Do not pile up the credit card applications. There are some hits done by credit card companies that are done for monitoring the accounts, or prescreening it. But most of other hits hurt your ratings.
- Emphasize on retaining a good credit history of longer duration rather than a short one.
You must have realized the importance of credit by now. Check your credit rating in the three major credit bureaus:
- Equifax: http://www.equifax.com/
- Experian: http://www.experian.com/
- Trans Union: http://www.transunion.com/
How long before credit inquiries disappear from your credit repo
How long before credit inquiries disappear from your credit report? Ive made alot of credit inquiries lately trying to get loans and credit cards. Please let me know. Also I heard that if you do several in one day it only counts as one inquiry. Also do those offers that come in the mail that say you have been pre approved effect your credit score. If so is there a way for creditors to stop doing inquiries.
fka, I believe credit inquiries stay on your credit report f
fka,
I believe credit inquiries stay on your credit report for 2 years (I'm not absolutely sure, I will check into it). The several inquiries at once counting as only 1 inquiry usually only applies to mortgage and/or car loans. If you have several inquiries for revolving accounts (credit cards), then they probably are viewed negatively. As for the pre-approved credit offers, these do not affect your credit score. When lenders inquire about your credit without you applying or giving consent, it does not have an impact on your credit.