Posts Tagged ‘matter what type’
5 Things I Want You To Know About How To Use Credit
Who would not want to be a master of credit? Who would not want to be able to get preferred auto loans, low interest credit cards, a great home mortgage or be able to buy what you want on credit and have the ability to pay it back on time? I am sure you just said “I do” to yourself. Maybe it’s because what you do not know how credit is robbing your of money in your everyday financial life. Let me clear your thinking when it comes to wise use of your credit worthiness.
You may already know that your credit history can stop you from getting utility services like gas and electric, economical phone rates, favorable auto insurance coverage, homeowner’s insurance, or even to prevent you from getting low interest credit cards. Here are the 5 tips that can give you the kind of preferential credit that the top 5% of us enjoy:
1. Most utility companies have minimum credit rules for service delivery.
If your credit history shows a history of collection of past energy bills, you likely will not be eligible for services at all or, at least, a huge deposit will be required. You may even need someone with good credit to put the utilities in their name or as a co-signer until you can prove you can afford to pay your utility bills on time.
2. Most telephone/cellphone providers will also look at your credit history.
People with good credit do not normally have to put up a deposit for a land line phone or for a cell phone plan. A friend of our who got into trouble with a cell phone company bill found he had to pay a $250 deposit to get a new provider. That prior cell phone provider reported him to the credit bureau. As difficult as it may be, be sure and pay off your phone provider before trying to get a new provider. That $250 would have been better in my friend’s bank account than in the provider’s account.