Your Credit Eligibility Is A Guarantee Of Success-www.cmechina.net

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Credit When getting a mortgage or a car loan or a small business loan you realize how important reasonable building of a credit history is. Your credit history is reflected numerically in your credit score . There are credit bureaus that collect financial information on individuals and estimate a credit score. By the way, they provide some credit fraud protection products. The three major reporting bureaus are: Experian, TransUnion and Equifax. The credit score they provide defines a credit card you may qualify for. But information on your scores provided by credit bureaus may differ. You are strongly advised to review your reports to manage your credit. You have the right to claim for three reports from major bureaus every year. When you get the report you can see whether you match the criteria to get a good or bad credit card. If your score is 660-749 you may qualify for a good credit card. This gives you such considerable benefits as low APR, 0% balance transfers and various rewards. If you have a score rating of 620-659 FICO points you can qualify for fair (average) cards. This means you are on the way to a good credit history. Fair cards are unsecured credit cards, considerably contributing to your future. A fair credit score is a transition point between poor and good credit. Being a reliable payer you increase your chances to get a good card. The score lower than 620 is a bad score. Bad score cards can be divided into secured and unsecured. Secured credit cards demand security deposit which determines your credit limit. If you are late with your payments the money will be taken from your account. You may also apply for an unsecured card for bad or no credit. This is the best way to reestablish your credit history, as they dont require a deposit and this is good for your report. Prevention is better than treatment, so you should be familiar with all the credit card details to build your credit history, and not to rebuild it in future. Make sure to get your annual reports and check them out carefully in order to avoid credit fraud, such as identity theft, card scam, Internet fraud etc. Follow some simple tips to escape it. Never tell your personal card details to anybody. Tear your credit card receipts. Try not to always carry your card with you. Report your card loss or theft to the bank immediately. Obtaining good credit history is a gradual process. Starting from secured bad credit card and ending with good scores it is the result of smart financial behavior. Study carefully how to deal with credits and to avoid debt. Profound knowledge of credit reporting mechanisms will be of a great use. Apply for your card, become eligible and get approved! About the Author: 相关的主题文章: