4 Things That Can Hurt Your Credit
Experts can debate the cause of the recession for years, but consumers are feeling the pinch right now through the reduced availability of credit. If you are in the market for a new home, a car or even a cell phone, it is more important than ever to make sure your credit is in great shape.
Whenever you apply for any loan, an apartment or even a job, your credit is scrutinized to asses if you are a "good credit risk." If you have a low credit score or a rocky credit history, you will see it in higher interest rates that can cost thousands of dollars more than someone with good credit.
The first step to keeping your credit in good shape is to check your credit report. Some things to look for include:
* Errors on your report
are surprisingly common and can take months to correct. Regularly monitoring your credit report can help you catch mistakes early.
* Debt-to-credit ratio
If you are maxing out your credit cards, lenders take this as a sign that you are borrowing as much as, or more than you can handle. Keep your balances at least 50 percent below your credit limit.
* Late payments
Making all your payments on time means you avoid a black mark on your credit report and can save you hundreds of dollars in late fees.
* Old accounts
Consider leaving old accounts open even if you don't use them much anymore. The length of your credit history is a factor in your credit score so it pays to keep accounts open.
Checking your credit !!
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Credit Repairs Unlimited is a credit firm focusing on repairing credit reports along with credit counseling services.
We have helped many Americans repair their credit reports by removing inaccurate, misleading, or unverifiable information (in other words, "questionable" negative credit.)
From bankruptcies to charge-offs to tax liens, we have challenged virtually every credit problem imaginable.
Credit report repair can be considered as a set of interventions one applies to questionable credit listings in order to manifest an improved credit rating.
These interventions are usually conducted by written letter, although -- while usually not recommended -- some approaches may be attempted by telephone.
Most people believe that credit repair begins and ends with the Fair Credit Reporting Act. In fact, there are thick pamphlets and even whole books directed toward consumers whose entire contents dwell upon that singular Federal statute.
Need Help? Contact Credit Repairs Unlimited online at www.cru-usa.info or contact us at 706-922-0160