Credit ABC's

At Quick Loans By Phone, we understand the value of having good credit. However, most consumers think that there is no way to rebuild good credit. This section discusses a few tips to make sure you are putting yourself in a position to have healthy credit.

• Start now by paying off all bills as promptly as possible or at least making the minimum payment. This is the first step in reversing bad credit.
• Stop using your credit cards and pay off the remaining balance as soon as possible. Do not close the account, however. While it may seem like the most logical thing to do, the longer your credit history is, the easier it is to raise your credit score.
• Consolidation loans are a good way to combine all debt, so that you make only one monthly payment to one company instead of many payments to different companies. This often lowers your interest rates and makes accounting easier.
• Get a copy of your credit report and dispute all errors.
• Avoid applying for credit often. This will negatively affect your credit score, often giving you higher interest rates on credit cards, mortgages, car loans, etc. You eventually pay a lot more in the long run for these items.