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| Creditworthiness |
Building your creditworthiness is not as difficult as you perceive. Here are the things that you can do effortlessly to make your credit look good:
1. A permanent residence: This is the place where you live and also where the mail can reach you. You don’t want to give an impression to others that you are a nomad.
2. A regular job: A regular job confirms that you can hold down a job and able to provide documentary evidence of your monthly earnings.
3. Obtain a small loan: You may not need one, but get one and pay off the loan in a timely fashion until it is fully settled. The whole idea is to establish a credit history for future reference by financial institutions. The loan demonstrates that you are capable of getting one and paying it off. It is better than someone without a credit history.
4. Get a credit card. Another way to show your creditworthiness is to get a credit card and use it. Pay the amount fully and promptly every time.
5. Open a current account: It is another way to tell the banks and other financial institutions that you are able to manage a bank account properly without issuing bounced checks or overdrawing your bank balance.
It is very simple to establish your creditworthiness but yet so effective. When the need arises for you to obtain a loan you will get one easily and quickly.
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