Maintaining Good Credit, After Credit Repair

Maintaining Good Credit, After Credit Repair

You've completed your credit repair and you have a clean sleight. Now what? Unfortunately, many who complete credit repair are repeat customers. Not because the old debt has returned but because they haven't taken the time to educate themselves about how to maintain their good credit. I've compiled 6 tips that can help you maintain your good credit.

Pay your bills on time. Yes, I know this should be common sense but it is simply the number one way to maintain your good credit after credit repair. Most people who have or have had bad credit didn't get in that situation because they are bad people who never intended to pay their debtors. In fact, it's typically the complete opposite, good people who have made bad decisions and /or faced significant decreases in their income and were unable to repay their debt. Now that you have the opportunity to have a fresh start be sure to make paying your bills on time a priority.

Only get lines of credit that you need and can afford. Another common mistake people with recently repaired credit tend to make is accepting every offer they get for credit. It takes time before you become accustom to being pre-approved for low interest lines of credit. The excite about being approved can often impair your better judgment. If not, you will quickly find yourself back in debt.

Manage your credit card debt. Keep your credit card balances below 25% of your limit and try to only charge what you can afford to pay off each month. This will add points to your credit score. Anytime, your balance is over 50% of your limit it will decrease your score.

Set your bills on automatic pay, with the deductions coming out the day after you receive your paycheck. There is something about knowing the payments are coming out that helps us to mentally think twice before we spend money that is budgeted for our bills.

Keep inquiries to a minimum. Many who have bad credit, have become accustom to applying for multiple lines of credit in the hopes that someone will extend them credit. Typically those with bad credit have a much higher amount of inquiries than those with good credit. This is for obvious reasons, when people really need something and don't get approved they keep trying. Now that you have good credit you can assume that you will get approved for whatever you apply for, so only apply for lines of credit that are essential and that you can afford.

Utilize a credit score/activity monitoring service and/or consider identity theft protection. Being in the Credit industry I've seen so many people who's credit has been ruined by others. Sometimes, by complete strangers and sadly other times by family members. Having your credit monitored ensures that you know what is being reported to the credit bureau's at all time. If fraudulent or incorrect information is being reported you can address it early on instead of finding out after you've applied for a line of credit.

Following these six steps can help you maintain your excellent credit rating and keep you in position to save thousands of dollars a year in interest. Most of all, maintaining your credit will allow you to truly participate in the American dream of owning the home you want, driving the car you want and obtaining credit for your business. For additional information visit www.trwcreditcorp.com.

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