Repair Your Credit | How You're Judged (Pt. 4)

How credit agencies view you (conclusion)

Welcome back. You’ve made it to the very end of “Repair Your Credit,” and let’s keep going to the end by taking a continued look at what credit agencies look at when they produce a credit score for you. That score determines how likely you are to get a good deal on a credit card, but typically has no bearing on whether or not you can be approved to receive a payday cash advance loan.

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• What are your spending habits?

How you use your credit is also a criteria examined by the credit bureaus when they develop your credit score. When looking at your credit accounts and account balances, they are able to determine just how conservative you are as a consumer spender. If your credit lines are maxed out or close to your available credit limit, you would be considered much more of a risk.

In contrast, avoiding a revolving credit balance by paying your consumer credit cards off at the end of each month or billing period will show you to be a far more conservative spender and therefore less of a risk to lenders. Just because you make your payments on time does not mean you automatically have good credit. Your spending habits can come back to bite you in more ways than one. ... click here to read the rest of the article titled "Repair Your Credit | How You're Judged (Pt. 4)"