Staying on Track, Eliminate the Need For Credit Repair By Joseph Feross At Isnare.com Ezine Articles

There are people who after life spans of 80 or so years (even more since the average life span has increased) who never have to engage in credit repair activities. As we now live in a plastic world, your aim should be to be one of these as well. Credit shapes the way we are able to purchase our first homes and vehicles. Ironically, credit also influences how much we will save on interest. So if you have the better score, you also probably have the better credit score, which means you will save on interest as a reward.

Most people in the US, as the average credit score is 692, based on a scale where good is 700, are teetering dangerously on that line of having good credit, and having to start employing credit repair practices. If you are one of them, you may be wondering how you can keep yourself from falling into that trap, and the answer really is just good financial habits.

Of course, this is easier said than done to be fair, and it does help to have some guidance on the matter. Therefore, if you are one of these people who is trying to avoid having to consider credit repair, and/or want to edge your ways towards excellent instead of good, here is the secret to how to keep your scores up.

The biggest factor, and one that seems as if it should be so obvious that there is no need to explain it, is PAY YOUR BILLS ON TIME. This is the heavy contributing factor to both your payment and credit histories which make up 50% of your credit score, and yet the biggest reason why people have to seek out credit repair aid.

Shaking your head and thinking well I know that. Apparently you don’t of you would have an excellent score already. What you may not understand, is that one late bill will hurt your score much more than five bills on time. It may seem unfair, but in the credit repair world, that’s just how it is. It’s along the same lines as the thought that once you lose someone’s trust you never get it back. Well in the credit world, once you pay a bill late, you are going to have to work awful hard to repair that trust.

Here’s another tip to stay out of the trip down credit repair lane, do not assume that you have a week grace period from your due date just because your loan may include that. A great majority of companies do not have grace periods in terms of their reporting your late bill to credit agencies. The grace period you are using may save you from a late fee, but not from the destruction of your credit score.

If you know that there is no way you will be able to make the payment on time, or you have a circumstance, saying a paycheck delay due to something out of your control, call the company or business you are going to default on. It’s that simple. If you give them the heads up, and have a good track history, they may work with you, and they will certainly respect your maturity and responsible actions.

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