Find out more on Debt Consolidation Credit Counseling In Phoenix Now!
Friday, February 27, 2009
Your credit score is important. Your credit score can decide if you will or won't get approved for a loan or a credit card. You must know your credit if you want to be able to start building up your credit.
If you don't pay your bills on time, or if you miss payments altogether, you are damaging your credit. If you have no credit, you could be at just as much a disadvantage. Fortunately, you can work to repair and build up your credit.
If you have no credit at all, you will need to start from scratch. Contrary to popular belief, you don't have to apply for 10 credit cards and max them out to build credit cards. You don't even need one credit card. Paying off any kind of loan can help to build your credit.
If you need a loan but have no credit, look for someone that has good credit and who will take a chance with you. You can ask them to be a cosigner on a loan with you. They will cosign and pay any bills you fail to pay. If you don't pay, you will be damaging your credit, so don't think they will just pick up the slack. Your credit and your relationship with that person will be tarnished.
If you don't need a loan or you want to take a less aggressive credit building path, there are other things you can do. If you have a cell phone plan, every time you pay your bill on time, you are building good credit. If you buying a computer or other electronic on credit, each bill you pay will help your credit.
While I don't recommend financing something you can pay up front, you could finance it and pay it within a month or two. This will build your credit and charge you minimal interest. Also, paying utility bills, rent, and any other monthly bills will add to your credit.
Those with bad credit need to take the same advice. Since you have bad credit, you probably weren't very good at paying your bills on time. This needs to stop! Paying your bills on time is the only way to keep your credit from going down and to build it back up.
If you have bad credit, you probably spend more than you make. This is reckless spending. You need to start budgeting and get a plan to pay all your bills on time every time. Stop using credit cards and pay your bills on time.
If you don't pay your bills on time, or if you miss payments altogether, you are damaging your credit. If you have no credit, you could be at just as much a disadvantage. Fortunately, you can work to repair and build up your credit.
If you have no credit at all, you will need to start from scratch. Contrary to popular belief, you don't have to apply for 10 credit cards and max them out to build credit cards. You don't even need one credit card. Paying off any kind of loan can help to build your credit.
If you need a loan but have no credit, look for someone that has good credit and who will take a chance with you. You can ask them to be a cosigner on a loan with you. They will cosign and pay any bills you fail to pay. If you don't pay, you will be damaging your credit, so don't think they will just pick up the slack. Your credit and your relationship with that person will be tarnished.
If you don't need a loan or you want to take a less aggressive credit building path, there are other things you can do. If you have a cell phone plan, every time you pay your bill on time, you are building good credit. If you buying a computer or other electronic on credit, each bill you pay will help your credit.
While I don't recommend financing something you can pay up front, you could finance it and pay it within a month or two. This will build your credit and charge you minimal interest. Also, paying utility bills, rent, and any other monthly bills will add to your credit.
Those with bad credit need to take the same advice. Since you have bad credit, you probably weren't very good at paying your bills on time. This needs to stop! Paying your bills on time is the only way to keep your credit from going down and to build it back up.
If you have bad credit, you probably spend more than you make. This is reckless spending. You need to start budgeting and get a plan to pay all your bills on time every time. Stop using credit cards and pay your bills on time.
About the Author:
What is a good credit score? This is most likely something many people wonder. Get your personal credit reports to find out how your credit is.
posted by Credit Counseling at
5:15 AM
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