Credit History – Understanding Its Importance

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most 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 » Credit History – Understanding Its Importance

Credit History – Understanding Its Importance


Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.
If you have a credit card handy you know how easy it makes things. For one thing doing your bills online is so much easier. You can also shop to your heart's content and be paying for what you buy in installments. What is even better is that you can make large scale purchases which you may have not been able to do earlier and you can pay for them one at a time through the times ahead. What's better is that how you use your credit card and pay off your debts will in turn make many more things easier. You can access more services easily. It looks good when you are applying for a higher position. You can even be eligible for a better card without an annual fee or a higher interest rate. credit cards can be a real breeze when you know what to do with them and when you handle things right. Additionally if you have a rewards credit card then it becomes even better. Make sure you get a rewards card that you really can use. For example if you are a person who travels frequently then you can use your frequent flyer card and get great discounts on your flight as well as when you are staying at select hotels or eating at participating restaurants. All these deals will make you feel good about your shopping and add to the thrill when you get closer to a reward or an achievement. Credit cards can be a real bonus in every way and if you know how to use them well you can achieve a lot with them. What most people do not realize that as it is easy to maintain and keep a track of bills it is just as easy for things to go wrong. And every single financial mistake will cost you dearly and affect your credit scores and credit history. The errors you make may be a mistake about estimating your returns and ability to pay off a debt. It could also be an error about how much you can afford to pay off in the years to come. Whatever the case, a late payment or a missed payment can totally mess up the credit history you have for years to come. What you need to do is try and plan things out so you can get it right with the credit history. When working with credit cards, you have to be very careful. It is not necessary to leave a balance amount, if you can afford to close it then do so. There may be a time in the future when you have to leave it because you can't close the whole thing, why accumulate a lot. When you have issues with credit card due dates you have got to decide how you can sort it out. Set up an automatic amount to put in a minimum payment every month. Make sure you do not have more cards than necessary; it will only make things difficult.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Posted: November 8, 2018

Thanksgiving is coming, and whether you are hosting a meal or coming as a guest, your spendings are going to accumulate faster than you can notice. A holiday feast is a costly matter – each year Americans spend around $50 on a Thanksgiving ... Continue reading
The Best Credit Card for Earning Cash: Discover it® Cash Back

The Best Credit Card for Earning Cash: Discover it® Cash Back

Posted: November 2, 2018

You’ll have hundreds of dollars in your pocket in no time because you’ll earn money back on every purchase you make with this card. There are no restrictions on the amount of cash back you can get, and Discover even matches every penny you ... Continue reading
Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Posted: October 10, 2018

Nights are drawing out, the wind is colder every day and you already feel the lightest breath of winter on your face - autumn is here. Holidays are over, kids are back to school and all you are left with are hefty holiday bills that you ... Continue reading
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!