Credit seems to dominate every aspect of our lives. However, still many people are unaware of the significance of having good credit rating. It is one of the primary aspects lenders look into while deciding whether you are a good candidate before approving loans. Here are some tips to help you improve credit rating in the long run:
Make timely repayments – Late or missed repayments can deter your chances of getting credit, as it reflects an irresponsible behavior towards repayments. Thus ensure that you are making monthly repayments in time.
Close any unused accounts – If there are any credit accounts which you are no longer in use then close them. Similar is the case with credit cards. Closing any unused accounts can also lower the risk of your account being misused.
Keep your identity protected – Identity frauds are quite common these days, so stay aware of any suspicious or unfamiliar entry which might reflect in your credit report. In case of any unknown entry, like an account you do not know about or a sudden increase in amount owed by you, make sure to contact the lender immediately.
Above mentioned tips can help to improve and maintain your credit rating. However, in case you are already facing the problem of bad credit rating, get in touch with a proficient financial advisor to get immediate solution, rather than ignoring the issue.
Ratebeat NMLS Number : NMLS NO1267188
Registered New York Mortgage Broker – All mortgage loans arranged with third party providers.
Figure: 7 TAC §80.200(b)
“consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the texas department of savings and mortgage lending, 2601 north lamar, suite 201, austin, texas 78705. complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. a toll-free consumer hotline is available at 1-877-276-5550. the department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. a written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. for more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.”