ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Review your credit report each year.
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Make sure everything on your credit report is correct.
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Dispute any errors you find on your report with your credit agency.
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All of the above.
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Detailed explanation-1: -Monitor your credit utilisation ratio. Don’t cancel old credit cards. Check your eligibility for every new loan that you borrow. Check your CIBIL report regularly. Take one loan at a time.
Detailed explanation-2: -Higher credit scores mean you have demonstrated responsible credit behavior in the past, which may make potential lenders and creditors more confident when evaluating a request for credit. Lenders generally see those with credit scores 670 and up as acceptable or lower-risk borrowers.
Detailed explanation-3: -How to access your report. You can request a free copy of your credit report from each of three major credit reporting agencies – Equifax®, Experian®, and TransUnion® – once each year at AnnualCreditReport.com or call toll-free 1-877-322-8228.
Detailed explanation-4: -Of these factors, payment history and credit utilization are the most important information. Together, they make up more than 60% of the impact on your credit scores.
Detailed explanation-5: -Be organized. Pay attention to the payment due dates. Mail your payment-or schedule an online payment through Bill Pay-at least a week before the due date. Sign up for automatic payments. Keep your contact information current.