5 Habits to maintain a healthy Credit Score

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5 Habits to maintain a healthy Credit Score
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Credit score is a three-digit number which stands
for your creditworthiness also to determine
your credit worthiness for loans and credit cards.
The repayment standings are all based on your
credit score. It is important to have good credit
score and maintain its progress.
Lets look at a few of the habits that lead to a
good credit history, and hence can lead to a good
credit score.
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Make regular and timely repayments as scheduled
The first element you need to Know is to maintain
a regular repayment schedule. Many people set up
calendars with important dates and due amounts
marked on it.
Once money is set aside basis the priorities, you
can be at ease for the rest of the month as the
bills are taken care of.
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Run regular checks on your credit utilization
This ratio is not just for your credit card, but
your overall credit limit which includes your
loans and credit card limits together.
A regular behaviour of credit utilization may
adversely affect your credit score.
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you can approach your card issuer and request to
increase your credit limit or get another credit
card if you have dropped your Credit Score.
You must ensure that you keep a track of your
expenses. A second card will increase your credit
limit and you have to properly take care credit
payments.
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Double check loan deeds and lease before
co-signing
It is important to understand that their activity
on those co-signed documents can affect their
credit health too.
The documents signed are for family members or
partners where trust lays the foundation for your
decision.
It is wise to enquire borrowers credit history
before deciding. Even if the score is good, make
sure they are timely repaying of their loan EMIs
and credit card dues.
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Make Enquiries for Credit Wisely
Every time you enquire about a loan or credit
card to your banks, they get your credit score to
evaluate how well you have handled credit. This
is considered as Hard inquiry which when overused
influences your credit score.
Checking your own credit score directly with the
bureaus is considered as soft enquiries which
dont pull down your credit score.
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Keep a regular tab on your Credit Score
A credit report is a history of your credit
accounts. It includes everything from your
settled and closed accounts to those that are
currently running.
One should check their credit report and score
with the bureaus to ensure that all the data are
correctly reported by lenders and shown in the
credit report.
Any dispute on the same should be raised with the
credit bureaus or respective lenders for
correction.
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You can get both your Personal Credit Score and
Business Credit Score by applying directly on
the link mentioned below
https//cir.crifhighmark.com