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4 Steps To Creating Good Credit

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By James Dimmitt

Please consider this free-reprint article written by: James Dimmitt ----------- IMPORTANT - Publication/Reprint Terms - You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included. - You are not allowed to use this article for commercial purposes. - You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications. - You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only. - If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to jimdim815@aol.com - If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to jimdim815@aol.com - We request that you ask permission from the author if you want to publish this article in print. The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article. ----------- Article Title: 4 Steps To Creating Good Credit Author: James Dimmitt Category: Finances Word Count: 444 Article URL: www.isnare.com/?id=2680&ca=Finances Format: 64cpl Author's Email Address: jimdim815@aol.com Article Source: www.isnare.com Online Publisher Tool: www.isnare.com/html.php?id=2680 ------------------ ARTICLE START ------------------ As a consumer you’ve learned the importance of establishing a good credit rating with your lenders. Whether you are shopping for a new home or auto, or searching for the best deals on insurance, your credit worthiness will be judged by your credit rating or credit score.

A bad credit history or bad credit habits will place “black marks” on your credit profile. These include things such as late payments, having an account assigned to a collection agency, and of course bankruptcy.

Establishing good credit habits and therefore a good credit rating will improve your credit worthiness. This will be reflected in potential lenders offering you substantially lower interest rates and better deals on credit offers.

Here are 4 tips to help you create a shining credit profile:

1) Pay Your Bills On Time

Lenders only have your past payment history on which to decide the type of credit risk you present to them. How you pay off your debts now indicates to them how you will pay off future debts.

2) Don’t Use Too Many or Too Few Credit Cards

How much is too much ? How little is too little ? Many credit experts and financial planners suggest two to four credit cards is just the right mix.

3) Pay At Least The Minimum Due

Always pay at least the minimum due payment, but never less. And remember, just paying the minimum payment means it will take you years and years to pay off that credit card.

Example: Paying off a $2,000 credit payment at 18% APR with a minimum monthly payment of 2% ($40 dollars or less) will take you 30 years to pay off the amount plus interest.

4) Review Your Credit Report Regularly

Monitor your credit report from all three major credit bureaus - Experian, TransUnion, and Equifax - on a regular basis. Check your credit profile at least annually. Review it carefully and make sure that any past mistakes or disputes have been corrected.

Also, if you notice an account listed that you know that you have not personally opened, contact that creditor and the credit bureaus immediately. This could be a sign that you’ve had your identity stolen. Request to have a fraud alert placed on your profile and account to protect yourself and your credit. Identity theft is the fastest growing consumer crime in America, with an estimated 1 million people victimized each year.

Establish good credit habits early in life and reap the benefits that your good credit rating will provide you for the rest of your financial future.

About The Author: © 2005, www.yourfreecreditreportnow.com Author: James H. Dimmitt James is editor of “To Your Credit” a FREE weekly newsletter focusing on managing your personal finances and credit. Subscribe and get a FREE copy of your credit report when you visit: www.yourfreecreditreportnow.com ------------------ ARTICLE END ------------------ For more free-reprint articles by James Dimmitt please visit: www.isnare.com/?s=author&a=James+Dimmitt ------------------------ Yahoo! Groups Sponsor --------------------~--> Give the gift of life to a sick child. Support St. Jude Children's Research Hospital's 'Thanks & Giving.' us.click.yahoo.com/h8TXDC/6WnJAA/HwKMAA/C1XolB/TM -------------------------------------------------------------- ------~-> ######################################################## Looking For Quality Content? The Syndicator provides free, quality syndicated articles for your website that are automatically updated each week. Syndication feeds include: Business/Sales Internet Marketing/Promotion Web Design/Development Biz Tips Web Design Tips Home & Family Matters Dinner Ideas Health & Fitness Horoscopes AngelVoice Headlines and more... www.web-source.net/syndicator.htm

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