When getting a loan or bpi credit cards, you need a credit score that will convince the licensed money lender that you are creditworthy. Credit scores reflects your credit history and how you have been as a borrower. It shows the level of risk the lender might take.
Here are some ways to make your credit score look good:
Never miss paying a bill. Pay on time because missed payments will be reflected on your credit history and it will affect your credit score big time.
Keep your credit card balance low. Charge on things that you can actually pay with your current cash inflow. Make sure it won’t be an outstanding debt.
Only open credit accounts when you really need them. Don’t open one if you think it will make your credit history seem good. A lot of credit accounts in short successions might make the lender think that you are always in debt.
It is better that you pay off the debt. Some people move around the debt to be able to seem that they can pay the debt, but actually this is not good for the credit score.
Make sure that all your credit information are safe against identity theft.
There is no short cut in fixing your credit score. Pay the ones you need to pay and wait.
Here are some facts about your credit score:
Credit score is based on your credit report updated by your lender. Make sure they update accurately and includes your on time payments.
Closing two accounts does not always mean a better credit score. It will still depe