Protecting My Credit Score Rating
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Credit Card Applications » Research » Guides » Building Credit History » Protecting My Credit Score Rating

Protecting My Credit Score Rating

Updated: December 26, 2012

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With the world's economic crisis, a lot of people are losing their job. Losing a job also means losing your purchasing power. Do not be disappointed instead find for another job and do your best to increase and maintain your credit score rating. Being unemployed gives headache and is such a difficult challenge to deal with. If you are lucky and had saved enough money, then you are out of the mess. Whichever the case is, here are some tips on how you could protect and maintain your credit score at the same time.

  1. If you could not do your credit report improvements, then you might choose a credit counselor to help you. You should know your credit reports' status. If you ever see any derogatory items on your report, you must do something immediately to correct it. You could send letters to your credit assessment agencies disputing about the anomalies on your credit reports. Next step to do is to get a new credit card. This would allow transfers from other credit cards into their card.
  2. Do not use your other credit card for new purchases instead use it to transfer your current balance. If you could not get another credit card, then you might ask your credit card company to decrease your interest rate.
  3. Tell your current credit card company that since you have lost your source of income, it would be very difficult for you to pay your credit dues on time. However, assure them that you want to maintain your credit score and improve it as well.
  4. On the contrary, there are companies that do not consider any excuses. You just have to keep on pursuing and tell them that you really want to keep up your credit score no matter what.
  5. If you could not pay your bills anymore, you would incur a bad credit history and would have a tough time fixing your credit score. You would be forced to get credit cards for bad credits to be able to repair your credit score.

Having a credit card and losing your job at the same time is such a tough task to deal with. Whatever happens, you have to seek any means to pay your credit dues and maintain a good credit score. Of course, you would not want to end up getting bad credit credit cards.

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