maintaining a good credit score is an important part of a consumer’s financial standing
MIAMI (PRWEB) April 13, 2018
Getting a good credit score and maintaining it can be challenging for a lot of consumers that is why National Debt Relief shared tips to help people manage their scores. The article titled “How to Get a Good Credit Score (and Keep it!)” released April 9, 2018, gives some valuable pieces of financial advice people can look into to get a good score and keep it.
The article starts off by pointing out that maintaining a good credit score is an important part of a consumer’s financial standing. This is because it enables them to obtain additional credit for important purchases in life. It can be for a home, a car, or even other loan instruments. It can also yield better insurance rates and even foregoing deposits on utilities.
The article shares that consumers need to understand what goes into their credit score. This is the first step even before they start building and maintaining a high credit score. People need to know that their score is a combination of a lot of things such as their payment history, credit utilization, history, and even new credit established.
That being said, the article further explains the importance of being able to pay their bills on time. Payment history counts for more than a third of their credit score. The manner by which people meet their financial obligations will directly reflect in their score. This is why people need to be mindful of their late payments.
The article also shares that people need to monitor their credit report. Once they have brought it to a level they want, they need to periodically look at it and review their report. This is because mistakes can happen in their report which can bring down their score. To read the full article, click https://www.nationaldebtrelief.com/keep-good-credit-score/