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How to maintain a good credit score

by , 17 July 2014

Having a good credit score will definitely help make your life easier. Bad credit can seriously affect your financial reputation.

A good credit score will increase your chances of getting credit card and loan approvals and help you get low interest rates.

How can you keep a good credit score and an intact financial reputation? Here are some useful tips:

Tip #1: Make payments on time
 
You can either schedule your payments to be paid automatically before the due date, or stay organized and make sure that all your bills are always paid on time. Paying all your bills on time will help you maintain a good credit score.
 
Tip #2: Take control of your spending
 
Keeping track of your spending, including credit card transactions. Avoid using your credit card excessively.
 
Tip #3: Take control of your debt
 
Too much debt can seriously affect your credit score. The lower your debt, the better chances you have of keeping a good credit score.
 
Tip #4: Don’t max out your credit card
 
Your credit score is also influenced by how close you get to reaching your credit card limit. Paying off the balance each month also helps you maintain a good credit score.

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Tip #5: Check your report
 
You are entitled to request a credit report once a year. Check it regularly to see if there are any errors, so you can correct them before they affect your overall credit score.
 


How to maintain a good credit score
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