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  • September 18, 2020
  • All, Credit Card, Jomsettle Guide

4 EASY WAYS TO BUILD GOOD CREDIT SCORE

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All this while you might be thinking that having no credit history helps you build credit. Do you realize that without having any credit history, it is difficult to obtain any loan or even a credit card? To make your credit history, you have to start from scratch; it does take time, and some patience in this process.

Build Credit with a Credit Card

Credit cards offer revolving lines of credit to cardholders, which means they can pay balances over time. A lot of youngsters today are experiencing debt problems with a credit card due to the misused. However, little do they know that it is a useful credit tool that can help them build better credit if they use it wisely. Here are some steps for credit gearing up with credit card:

Get a Secured Credit Card

A secured Credit Card is designed for people with no credit or poor credit. A secured credit card can help you establish or re-establish your credit. Since payments are included in your credit report, paying on time and managing your balance will improve your credit score. After building your credit score, you may be able to qualify for a regular credit card.

Create frequent activities on the Credit Card

This is to give yourself a credit score for the last six months. We are not asking you to shop lavishly, which can cause even more debt. However, a simple frequent transaction such as paying your monthly utility bills can help you get a good credit score.

Build Credit with a Credit Card

Although we have shared the possible steps for gearing up your credit with you, some essential points can help you build good credit:

Pay on Time

It is vital to settle your payment on time on all of your commitments, including loan repayment and paying bills. Any payment delay will cost you an additional charge to your loan interest.

Settle the Full Repayment Amount

There will be a time where you are short in cash and need to pay at the minimum amount you can, but try to work out on extra payment for the following month.

Avoid Overspending

Avoid overspending your credit card because you may not afford to repay the credits, thus end up suffering a negative balance from your monthly salary.

Track Your Record

Make it a habit to check your credit reports and scoring at least every half-yearly. It will help you in keeping a good credit track record and scoring.

Visit our website, jomSETTLE to find out how your credit card can be useful in managing your monthly settlement.

Let's Stay in Touch

Get updates on our latest articles

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2023: Why You Should Start Paying Your Business Expenses with Credit Card

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January 16, 2023

What is a Credit Score and How Does it Affect You?

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October 14, 2022
  • September 18, 2020
  • All, Credit Card, Jomsettle Guide

4 EASY WAYS TO BUILD GOOD CREDIT SCORE

All this while you might be thinking that having no credit history helps you build credit. Do you realize that without having any credit history, it is difficult to obtain any loan or even a credit card? To make your credit history, you have to start from scratch; it does take time, and some patience in this process.

Build Credit with a Credit Card

Credit cards offer revolving lines of credit to cardholders, which means they can pay balances over time. A lot of youngsters today are experiencing debt problems with a credit card due to the misused. However, little do they know that it is a useful credit tool that can help them build better credit if they use it wisely. Here are some steps for credit gearing up with credit card:

Get a Secured Credit Card

A secured Credit Card is designed for people with no credit or poor credit. A secured credit card can help you establish or re-establish your credit. Since payments are included in your credit report, paying on time and managing your balance will improve your credit score. After building your credit score, you may be able to qualify for a regular credit card.

Create frequent activities on the Credit Card

This is to give yourself a credit score for the last six months. We are not asking you to shop lavishly, which can cause even more debt. However, a simple frequent transaction such as paying your monthly utility bills can help you get a good credit score.

Best Practices

Although we have shared the possible steps for gearing up your credit with you, some essential points can help you build good credit:

Pay on Time

It is vital to settle your payment on time on all of your commitments, including loan repayment and paying bills. Any payment delay will cost you an additional charge to your loan interest.

Settle the Full Repayment Amount

There will be a time where you are short in cash and need to pay at the minimum amount you can, but try to work out on extra payment for the following month.

Avoid Overspending

Avoid overspending your credit card because you may not afford to repay the credits, thus end up suffering a negative balance from your monthly salary.

Track Your Record

Make it a habit to check your credit reports and scoring at least every half-yearly. It will help you in keeping a good credit track record and scoring.

Visit our website, jomSETTLE to find out how your credit card can be useful in managing your monthly settlement.

Let's Stay in Touch

Get updates on our latest article.

You May Also Like

2023: The Advantages of Accepting Credit Card Payment as a Business

Read More »
February 3, 2023

2023: Why You Should Start Paying Your Business Expenses with Credit Card

Read More »
January 16, 2023

What is a Credit Score and How Does it Affect You?

Read More »
October 14, 2022

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