Credit card good credit

Credit card is just like a debit card. But there is only one difference. Bank give money in advance in credit card and you can pay later after spending. Whereas in case of debit card, you have to put money first and then only they are allowed to spend.

To own a credit card is a big responsibility. So does to choose the credit card. Banks provides credit cards in two ways:

  1. If you have your own account in a bank than you can get a credit.

  2. Another method is bank offer credit card to certain person depending upon their credit score.

First step of applying credit card is to know about all the details about the card. Some of the main things you need to know about credit card is your usage and the bank suitable for applying card.

Good credit depends upon the number of the credit score. Credit score ranges from 300 to 850. If a person’s credit score ranges from750 to 850, it is considered as the best or good credit score. To check for your credit score you can go to websites such as www.goodcredit.com . All you need to add your details and then these websites will analyze all the details. Evaluate your credit score on the basis of the parameters and give you the final credit score. Credit score mostly given in the FICO score model which was formed and widely accepted.

To give the good credit on card depends on the good credit score maintained by the individual. This score is analyzed on the basis of the parameters such as money transaction, usage of card, debt burden etc.

So to get the best credit card with high credit limit, it is necessary to maintain a good credit score. In case you don’t have good credit score, then you can improve it by timely payment of your loans and credit card bills. A small responsibility towards finance will give you best credit card. You can take the help of websites such as www.goodcredit.com.

Now how can you get good score?

You can get good credit score in following ways:

  • Before applying for loan, check your credit report. You can check it on websites such as www.goodcredit.com.

  • If you are having any joint financial account with someone just end that partnership. This is because if that person has bad credit then your credit score will also go down.

  • Get enrolled which means if you enrolled yourself, then you develop a trust in lenders. This happens because you enrolled your original address so chances of fraud would be less.

  • Close all your unused accounts and credit cards. Because unnecessary debts are not good for rating.

  • Late payments and missed payments stay in account for very long time. They also ruin your good credit history (which you can see on websites such as www.goodcredit.com).

  • Pay all your debts in time. Don’t miss to clear your loan EMI and credit card bills on timely basis. One mistake can cost you long term.