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Date:
May 25, 2007, 12:52 am
How do i build my credit?
Answer:
First of all, request you credit report and check it for any inaccurate information. It is recommended that you do it regularly. Learn your current credit score. It will be better if you request the score from each of three credit reporting agencies, such as Equifax, Experian and TransUnion. It is important because the numbers may differ, and the lenders generally look at the lowest score. If you miss your payments it may negatively affect your score, so do your best to pay all the bills on time. You should minimize the amount of inquiries on your credit report. Otherwise, you may lose up to 5 points from your score for each inquiry. If you have a bad credit history, open new accounts only if you need them. Try to keep your balance low and use your cards lightly. Don't forget to use the old cards because in other case the information will not be updated. All these recommendations will allow you to establish a positive credit history and in time you'll be eligible for the best cards.
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