CREDIT HISTORY - CREDIT REPORT

Credit history or credit report is a record of an individual's or company's past borrowing and repaying, including information about late payments and bankruptcy. The term "credit reputation" can either used synonymous to credit history or to credit score. How to improve your credit rating:

Pay your bills on time

Control of debt - Lenders want to see that you are not living beyond your means

Signs of responsibility and stability(longevity in your home and job)

Keep credit enquiries to a minimum

Keep cards you don't use

The terms of Credit Card issuance vary widely, mostly dependant upon your credit record. Generally, those with a demonstrated history of paying bills on time and with a low debt load are rewarded with lower interest rates and higher credit limits.

Your credit limit is the amount you are allowed to borrow from the creditor for purchases and cash advances. Cash advance transactions are often subject to higher interest rates than purchases. Limits can be as little as $200 or as high as $10,000 and even beyond.

To improve a credit rating damaged by poor credit habits, in the long run only one thing will work: changing those habits. Making arrangements with the creditors to repay them is often one of the steps in improving one's credit habits.

If you have been denied a Credit Card the creditor is mandated by law to give a reason for the denial. You are entitled to a free copy of your credit report. When you receive the report, review it carefully to make sure that it contains current and correct information. Report any errors immediately.

To dispute an entry in your credit report because it contains erroneous, misleading, or outdated information, as provided by federal law, simply write a letter to the credit reporting agency. Several trustworthy organizations exist that can advise people whose debt has spiraled out of control, or those who feel they've been treated unfairly by their credit card companies.

Related:

Debt Consolidation

Debt Help