How to get a good credit rating?
At present, the credit in our life are everywhere, from credit CARDS, car loans to mortgages, credit has become a part of our lives. It is not only to bring us convenient, also help us to achieve financial goals, as have a dream house or a car very want.
However, when it comes to how to manage credit, many people think is not important. Ask your peers, have you seen their credit report? You know your credit score? Many people don’t know about their credit report, let alone a credit rating.
Have a good credit rating is very important for you deal with the financial, banking or lenders will use it to evaluate your risk and whether to approve your loan.
Credit rating according to personal reimbursement ability. Higher credit score means the credit risk is lower. Therefore, a high credit ratings make it much easier to get loans.
Here are some simple ways to help you establish a high credit rating.
Check your credit score
The only way to know whether your credit rating is good to check. Now, you can from Singapore Credit center (Credit Bureau Singapore, hereinafter referred to as the CBS) for each 6.42 yuan to get a Credit rating.
If you apply for credit to CBS members, you can also add a credit report.
In the bank credit report will show you the past and big financial institutions credit payment records, as well as your credit score.
The credit rating of CBS is a four digit number from 1000 to 2000, it is from your loan account payment records. The higher score means that your chances of a default in the next 12 months.
If you know your current credit score, you can fill the insufficient and effectively improve your credit score.
Keep credit active
To establish a good credit, the first step is to start using your credit account, if you don’t use a credit card can be thought to maintain the balance at zero, then can obtain the highest credit rating, then you are wrong, because the credit score is not so.
In order to obtain a credit score, you must have enough credit activities, the purpose is good credit behavior of accumulated for a long time.
Therefore, you need to brush your credit card, but not excessive, and pay your bill in time for the entire quantity.
Over time, good payment record will help you to build up your credit report, let you get the long-awaited good credit rating.
Be patient and persistent
Establish a good credit needs time, can not how to improve the credit, because of the credit rating is reflected in the past for a period of time the credit quality of activity.
If you leave bad loan books tags, like no reimbursement or even default, settle the amount will not immediately after the bad tags removed and change your score overnight.
You need to continue to maintain good after settle debt payment records, over time, as the credit rating will be constantly updated, the final weight will gradually fall in the latest good credit behavior.
You will find your credit score gradually improved, and your bad mark will slowly failure over time.
Clear his debt
While using a credit account can help you build credit, but when you accumulated too much debt, they can also affect your credit. Lenders want to see your credit card debt and have enough breathing space between the total credit limit.
So, when you want to make the most of your credit limit, only pay the minimum payment of credit card, please think twice. Because you not only because of the overdue payment for suffering high interest charges, your reputation will be affected.
In addition, with the debt continue to roll, you will find even pay the monthly minimum payment unable to cope, but these payment becomes due unpaid, at that time, your credit score will be negative impact.
You must reduce dine out or weekend to save money together, the outstanding balance of the long run, this can not only help you save the interest, can also obtain good credit rating for you.
When you can see how the credit operation, to establish or improve the credit rating is not difficult.
This article to the Singapore credit center