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Discussion in 'Growing and Managing a Business' started by perfectionj, Mar 16, 2012.
I need to know the tips for improving credit history?
With bad credit report, your economic options can be reduced. Also a bad credit rating can bound your borrowing options. So improve credit history as early as you can because better the credit, better the conditions of lending, better will be the option to get loan.
What if you do have a bad credit history before and now you have a better job and good pay than before then you want to borrow some money for a house? Will that affect the process?
Well, You might be tempted to close credit card accounts that have become delinquent, but wait. Before you close any account make sure it won't negatively affect your credit.
Try to clear your previous accounts and limit your expenses to some extent, mean for the time being tried to make expense only on those things which are badly you need and by saving money clear your debts. This may be difficult but after clearing bad records you will be in most relaxed situation.
Never go bankrupt! That can bring down a lot of points on your credit report.. many people use it as a method to avoid foreclosure, but little do they know it will affect their credit rating in long term..