Your credit rating is a measure of your credit-worthiness: your reputation for paying back money. The credit bureau handles information on people's use of credit. It provides your credit history, which is a list of facts about how you handle debt. This information is gathered from financial institutions, retailers and other lenders. Most of your credit information remains on your file for seven years. The ranking they give you is called your "credit rating."
How do you build a good credit rating?
Pay your bills promptly, especially credit cards
Borrow only what you need and what you can afford
Try to pay off loans on time and as quickly as possible. Not only does it help your credit rating, you also save valuable interest costs .
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Your credit rating is a measure of your credit-worthiness: your reputation for paying back money. The credit bureau handles information on people's use of credit. It provides your credit history, which is a list of facts about how you handle debt. This information is gathered from financial institutions, retailers and other lenders. Most of your credit information remains on your file for seven years. The ranking they give you is called your "credit rating."
How do you build a good credit rating?