Applying for loans and credit requires the creditor to check on your financial history and more importantly, what your credit score is and how healthy your report is. To keep your record clean, it takes diligence.
Here are a few ways you can keep your credit score at its best:
Decline the declines
One of the biggest mistakes you can make is to let your debit orders bounce. Once you have an amount you need to pay, you should stick to it. If you are struggling to do so, consider negotiating a rate you can afford with your creditors so that the agreed amount can go off monthly.
Do away with manual payments
Sometimes it may seem easier to pay some of your smaller accounts manually. However, because they are small its also easy to skip them when you need the extra cash. Rather put them on a debit order so that they are always paid on time.
Dependent on your bank and your accounts, some creditors afford their clients the opportunity to apply for a payment holiday. This means that you can skip a payment or two without it going on your record. However, the downside is that your payment term might increase.
Keeping a healthy record and managing your finances is not an easy task. If you need help getting back on track, give us a shout today.