On the previous post we have discussed about the benefit and comparing about the APR (Annual Percentage Rate) from the credit card flyer products. The APR is what you will pay on what you purchase when the incentive period runs out. APR rates will vary among credit cards, so it is always in your best interest to compare and shop around. The lower APR rate you get, the better off you’ll be. When you make that final decision and choose your credit card, you should always make sure that you know exactly what you are getting.
Credit cards are great to have, although they can lead to your own downfall if you don’t choose and use them carefully. If you put some time and research into choosing your credit card, you’ll find the best one for you. As long as you take care of your credit card and pay the bill on time, you’ll help raise your credit score and eventually be able to purchase even bigger things – such as a car or even a house, and sometimes the credit card company gives you a reward or appreciation with the ‘promotional’ feature of credit cards for excellent credit.
And how do you get a good credit score then? Here is alittle clue on how your credit score is examined:
- Repayment History
The more on time, of repayment of your credit will increase the score for this side, so you should always pay the bill on time, never go too late more than a week.
- Amount of Credit
Is how much your spending on the credit account, I think it’s a variable and doesn’t mean that higher value will result higher credit score, back to point one, it’s about the payment. No matter how much you spend, as long as you have consequent to pay the bill, it’s okay.
- Your Income vs. Credit
Your personal records of your income, comparable with your credit
- Your Address History
Do you often move or settle in one place? this will affect the scoring as well.
Other scoring point is also taken from How Long You Have Had Specific Types Of Credit (the longer the better), Judgments, and Bankruptcy records. Hope you can fill up those aspects with good value so you will get the benefit of excellent credit.
