An ideal customer always manages to keep its improved position by keeping creditor happy. Logically, in order to get more credit and fulfill your financial consumption, you need to show your loyalty as well as better credit report history to the lender. Loan whether the short term or long term has some conditions to be fulfilled. Mostly, provision of long-term loan needs a guarantor with strong financial credibility to ensure he/she is going to secure the lender. Custody of the long-term asset can also be required. Short term loan, have many types prevailing in the financial market just like credit card. Here we are going to share few aspects that a borrower must keep into account to manage his/her credit worthiness.
Definitely, your way of dealing with the lender, may be a bank, will show the way you can be entertained on regular basis by the lender.
Accumulation of your debt is always a sign of weak credit positioning of you, so be sure before applying to the next sum of Transaction, you have clear your previous balance.
Do not hang the bank for getting full payment along with the charges. Customers deteriorate their financial image by paying half of the due balance and entering into next financial transaction. Be wise and spend within the limits available, before indulging yourself into next financial deal, see what amount is still behind, pay it full.
Paying the bank charges is as important as paying back the loan sum is. Delaying payment of bank charges will show your negligence towards the caring services of bank to support you.
Keep watching the “pay date” on which your credit card bill amount was supposed to be received by prestigious bank. On the other hand, extending the period of repayment will definitely forces the bank to tight the loan facility next time. Rendering you, in financial difficulty for longer run.
The next step is how to increase your Credit eligibility in front of bank. Try to go for secure credit card, in which you will deposit a sum before initiating the credit card transaction. In this way, you are securing yourself from bad credit history in case you have drawn beyond the credit card limit and also save the bank to wait for your payment as you have paid with the advance balance. After duration of almost a year, when bank will have evidence of your secure and regular payment, you will automatically make yourself eligible to go for better limit and longer pay date credit card.
In order to be in a better and long-term relation with the bank, keep regular review of your credit card report. It may help you guiding the credit department to make some correction in case you are overly charged.
An additional tip, to maintain high credit position and a score eventually, is to avoid going for credit inquiries occasionally. Because each time you going to make inquiry for credit, the lender will definitely open your credit history report. Repeated credit inquiries are giving an alarm that you have opened too many ends at one point.