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Dealing With Credit BureausThe best way to get and keep a good credit score is to earn a steady income, borrow some—but not too much—and pay all of your bills on time. And don’t get sued by anybody. And do all this consistently, over your whole adult life. Not everyone manages the credit equation perfectly. In fact, most people have problems with some part of it at some point. If you’re one of those many, you’ll need to manage your credit score—especially if you want to buy or refinance a house, get a new car or start a business.
The best way to improve your credit score is to know and manage your financial data, which is kept by credit bureaus. (These companies are more formally called “consumer reporting agencies” or CRAs.) Financial counsellors usually recommend getting a credit report from each credit bureau three to six months before you apply for a home loan, buy a car or attempt to borrow a large sum of money for any other reason. Even if you aren’t planning a major purchase, most experts suggest that you check your credit reports once a year.
Next: How to Get Your Reports |
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