4 Tips To Establish Good Credit Rating December 6, 2007
Posted by Vedis in : Credit Rating , add a comment
A bad credit history or bad credit habits will place “black marks” on your credit profile. These include things such as late payments, having an account assigned to a collection agency, and of course bankruptcy.
Establishing good credit habits and therefore a good credit rating will improve your credit worthiness. This will be reflected in potential lenders offering you substantially lower interest rates and better deals on credit offers.
Here are 4 tips to help you create a shining credit profile:
1. Pay Your Bills On Time
Lenders only have your past payment history on which to decide the type of credit risk you present to them. How you pay off your debts now indicates to them how you will pay off future debts. (more…)
12 Tips On Picking The Best Credit Card May 1, 2007
Posted by Vedis in : Credit Cards , add a commentThese are quick tips that can help you in choosing the best credit card:
- How much is the annual fee ?
- What is the interest rate and minimum payment charged ?
- How are interest charges calculated?
- When are interest charges levied on purchases and cash advances ? Do they charge from the day you buy the item, or from a certain date every month ? (In other words, if you pay the credit card amount before this date, you get an interest-free loan.)
- What fees are charged for cash advances ?
- Are there any other fees associated with this card ? If so, what are they ?
- What extra benefits do you get ? Some offer a waiver of annual fees, free insurance, or points which can be used to pay the annual fees ?
- What paperwork do they need from you?
- If you don’t have a credit history, will they accept your chequeing and savings account history ?
- If the bank or credit card company asks for a security deposit, what is the interest rate earned on this?
- Does the government insure the deposit account ?
- Can additional deposits be made to increase the credit line ?
