本文发表在 rolia.net 枫下论坛How does credit work on my credit card? What is a credit history? And a credit report?
Your credit card is a powerful financial tool and you should use it wisely. As you probably know, a bad credit rating can affect your ability to negotiate with your creditors - it can even hinder your ability to get a job! On the other hand, a good credit rating can free you to make the purchases you want.
How does credit work on my credit card?
Your credit cards are a payment tool issued to you for making retail purchases or obtaining cash advances from a pre-approved credit line. You're given the option of paying off the entire outstanding balance all at once or in monthly instalments at the applicable annual interest rate.
What is a credit history? And a credit report?
Each time you apply for credit, your credit history is checked. Your credit history is compiled and maintained by credit reporting bureaus like Equifax Canada Inc. and Trans Union of Canada Inc. These companies maintain files on Canadian residents.
Your credit report is updated regularly and contains personal information that may include date of birth, present and past addresses, and current and past employers. Also included is personal credit management information, such as how much credit you have been extended and your payment history. This information is provided by your creditor(s).
Personal credit information is made available, in accordance with the law, to authorized banks, financial institutions, stores and potential employers that subscribe to these services. Since many organizations rely on this information to learn about your credit history, any mistakes on your credit report could cause you serious problems.
If you want to check your credit report you can request a copy from the credit reporting bureaus. Keep in mind that financial institutions may report to different credit reporting bureaus - so you may want to order reports from both companies listed below.
Equifax Canada Inc.
www.equifax.ca
1-800-465-7166
Trans Union of Canada Inc.
1-800-663-9980
1-800-363-2809 (For Quebec Residents)
How do I maintain good credit?
The key to maintaining good credit is to use only as much credit as you can afford and to pay on time. Managing your credit is easy if you follow a few simple guidelines:
Pay at least the minimum payment due. If you are unable to pay your full balance each month, credit card companies require that you pay at least a minimum amount to keep your account in good standing.
Always pay on time. Your credit report records how timely you pay your bills. It's better to pay the minimum payment due on your credit card account on time than to wait and pay off the entire balance two months late.
If you are unable to pay your minimum payment by the due date, let your creditor know. Lenders understand that even the most responsible borrowers sometimes have financial problems. In these situations, most creditors will work with you to develop a repayment plan that you can handle.
Do not exceed your credit limit. Keep your account balance within your credit limit. Of course, there are always emergencies, so if you need to go beyond your credit limit, try calling your creditor to request an emergency credit limit increase. If you consistently pay at least the minimum due and do not exceed your credit limit, you'll maintain a good credit rating.
How should I manage my Accounts?
Get the most from your credit and stay out of financial trouble through proper money management. Here are a few suggestions to help you manage your money wisely:
Make a budget for yourself and your household
Avoid using your cash advances to pay for day-to-day expenses
Take precautions by limiting the number of credit cards you carry and setting a personal credit limit
Know how much you owe at any given time and the amount of credit you have used by keeping all your credit card sales receipts
Last but not least, try to expand your financial education by reading articles or attending seminars about managing personal finances.更多精彩文章及讨论，请光临枫下论坛 rolia.net