Futures Fashion Lifestyle

Your credit score is the index describing your ability to manage credit. The better you manage your credit the higher the score will be. To gain for a higher score you can try to have a mix of credit and be prompt to the payment of your various credits. How to do that? What kind of credit you need to maintain?

Maintaining a mix of credit is aiming to demonstrate your ability to have prompt payment and good credit limit for short term and long term credit with a fixed payment as well as a different amount of due payment . The fix payment credit is vehicle, personal loan or mortgage. The unfixed payment is your credit cards. To fix credit your credit score you need to maintain various credit with balance of 70% maximum and paid all the due ON TIME.

The optimum mixed of credit should be calculated carefully to avoid over leverage. You can not get a good score if you have too much amount outstanding compare to your income or net worth. If you don’t know how to measure it, you can ask for advice from a credit repair consultant. The advice will be given confidentially. When you need a hundred more credit to get your new car financing you can do it privately, don’t ask advice from your friend because it will be like wearing printed t-shirts saying,” hello, I have bad credit rating, please give me a hand!”

This post written by Phillip Thow