Surina Hart, Quinte Real Estate Broker Royal LePage | MLS listings for Belleville, Brighton, Cramahe, Quinte West, Trenton & Prince Edward County

Improve Your Payment History

Monday, Jan. 04 2010  |  Posted by: Surina  |  0 comments

Since your payment history accounts for 35% of your credit score, you need to make sure that all your accounts are up to date and don't show late payments. Pay off past due accounts, and then concentrate on paying your bills consistently before the due date. If you tend to forget to mail your payment in on time, consider automatic bill payment options (either through your bank or online).

You may be wondering how liens, judgments, collections, and bankruptcy will affect your credit score. I won't lie to you. These bad marks will seriously lower your credit score, but not indefinitely. Since this information may only be reported for 7 to 10 years, it will eventually drop off your record. And, if you can consistently pay your bills on time for two or three years, the impact of these negative items will not be as great.

Posted in: Mortgage & Finance

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