Learn about building a solid credit history, importance of building a good credit report, good vs. bad debt and credit limits.
A solid credit history can be one of your most useful and powerful financial assets.
Maintaining a solid credit history is an important part of managing your finances.
Here are five reasons why you should consider using a credit monitoring service.
You need to know that the credit reporting agencies do look at the different types of credit through different lenses.
Borrowing less against higher limits reduces your credit ratio and can increase your credit score.
Keeping a credit card account open and active; even if you use it only occasionally can help your credit score, even if you prefer to use cash.
Keeping a credit card account open, even if you do not use it, can help your credit score more than closing the account.
You are entitled to receive a free copy of your credit report each year from each of the three main credit reporting bureaus: Experian, TransUnion, and Equifax.
The information provided is not intended to be legal, tax, or financial advice or recommendations for any specific individual, business, or circumstance. TowneBank cannot guarantee that it is accurate, up to date, or appropriate for your situation. Financial calculators are provided for illustrative purposes only. You are encouraged to consult with a qualified attorney or financial advisor to understand how the law applies to your particular circumstances or for financial information specific to your personal or business situation.