July 20, 2012 12:12 pm
Why it is important to maintain a good credit report?
Simple,If you want Credit from Bank in future they look up you credit history from past.
So keep your credit clean if you need more credit like (home loan,car loan etc.)
Dear Jay, the credit report provides the history of your financial behaviour. How you have utilized the loans given to you in the past, what was the repayment track record. On the basis of this report, the bank ‘ll decide it’s yes or now for your future loan applications be it for house, car or even credit card (it’s also a loan – unsecured one)
Good credit report means, you had paid your dues within the dates, hence the trust on you will be good for credit funding institutions. This in-turn will help to get best offers on Loans / credit card.
Credit reports form a basis of all financial lending transactions. In some jobs, they are also one of the basis of job offering by the companies (specially banks for certain profiles).
I think that is important for you to go through this article which exactly answers your queries http://insight.banyanfa.com/improve-your-credit-history/
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