Posts Tagged ‘develop credit profile’
Develop a Powerful Credit Profile With The “Big 8″
To develop a positive, powerful credit profile, qualify yourself in as many categories as you can based on the chart below.
THE “BIG 8″
ELEMENTS OF A POWERFUL CREDIT PROFILE
(In order of importance)
1. A positive, up-to-date credit report
2. A home with a mortgage
3. An American Express card and/or Diners Club card
4. A job you’ve held for a year or more
5. A current or paid-off bank loan
6. A MasterCard or Visa card
7. A department store credit card
8. A telephone in your name
The more categories under which you qualify, the easier it is to get credit when you need it.
Your credit profile, good or bad, will determine how easy or difficult it is to get bank loans, auto loans, personal loans, credit cards, or any other form of financing. Your profile can also determine what interest rates you pay, higher or lower, and in some cases will also be a determining factor in whether you get a certain job or even an applied-for larger life insurance policy. A positive, powerful credit profile does its own explaining so that you don’t have to. Your objective is to consciously and constantly upgrade your credit profile.