Importance of credit history for every consumer
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » Research » Guides » Building Credit History » Importance of credit history for every consumer

Importance of credit history for every consumer


Updated: December 26, 2012

By
Add to Favorites:

Today the whole world knows how important it is to have credit history. It is without doubt an incredibly important part of everyone`s life. You have got to make sure that at any point in time you are well aware of how things stand, what you need to pay and whether you should go for the next credit card or not. When you are not sure of credit cards and just sign up for them without being aware of what it entails it could make a lot of things difficult for you always. A lot of people are going through so many difficulties trying to cope with unemployment, lack of funds and mounting bills. The credit card bills simply exacerbate an already bad situation and add to that worries of not being able to pay on time and you could be shaping up very badly.

Today just about everything is done based on credit history. Employment is decided based on credit scores and how people have been doing things, insurance, housing and mortgage are all important parts of a person`s life. When you have to work on the credit report and your scores, you have to order a copy first and foremost. If you do not get it then knowing how things are is difficult and being in a blind spot you cannot work on the situation properly. Make sure you have proper bills and papers to validate any and every detail on the report so you know what it contains. In case there is some information that is incorrect on it, you need to file a complaint with a federal trade commission and get things cleared immediately.

Some people often tend to misunderstand the importance of FICO scores. Earlier people were not allowed to see the scores and it was only available to merchants and lenders. However today it is now available to everyone and people can pay a small fee to see their report and get their scores as well. If you are working on the credit scores and are trying to work on your accounts you should not close your credit card. If your lender looks at the total available credit and sees that too many accounts have been closed recently they will not be willing to offer you credit. Shutting an account that has been there since long can make your score go down further and so it is important to keep your oldest accounts open always.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

How to Get Free Wi-Fi in the Air

By Herbert Moore, Posted: August 9, 2016

Sometimes in-flight Wi-Fi is the bare necessity when you travel abroad or within the country. However not all airlines offer free in-flight Wi-Fi. There is only a couple of airlines that will allow you to use Wi-Fi ... Continue reading

Amazon Credit Cards Review

By Allison Martin, Posted: May 30, 2016

When Amazon.com was launched 20 years ago, few could have envisioned how far the company would come. What was once an online specialty bookstore is now an Internet juggernaut that sells nearly anything and has made major inroads into ... Continue reading

How Much Do Shell Cards Really Save on Gas?

By Allison Martin, Posted: April 20, 2016

There is an endless amount of gas cards on the market, and practically every major gas station, including Shell, has options to choose from. In fact, Shell offers two options for gas cards for consumers. Continue reading