If you have had credit cards or loans and made all required payments on time, you probably have a good credit history. A positive credit record results from using credit wisely.
People with good credit have:
Established credit—they have borrowed money or used a credit card.
A proven record of making at least the minimum payments on time—by the due date—and staying within their credit limits.
Only obtained loans or credit cards that they are capable of paying back. (Don't overextend yourself—apply for only the credit you can afford.)
Negative credit results from failing to pay bills as agreed.
Your credit can be negatively affected by:
Late payments.
Paying less than the minimum.
Having too many credit cards with large balances or large amounts of available credit—even if you make on-time payments.
Overdue accounts that have been referred to a collection agency.
Declaring bankruptcy.
Having court-ordered withdrawals from your paycheck to pay debts (garnishment).
RSS
If you have had credit cards or loans and made all required payments on time, you probably have a good credit history. A positive credit record results from using credit wisely.
People with good credit have:
Negative credit results from failing to pay bills as agreed.
Your credit can be negatively affected by: