Your credit rating: how to get a good financial report card
Written by Nipapun Poonsateansup, CFP®, Financial Advisor
Sooner or later in life, most of us want to borrow some money, whether it's a mortgage, credit card account or smalll business loan. But the bank needs to know you'll pay back what you borrow and do it on time. That's when it's important to be able to prove your financial reliability, also known as creditworthiness. If you have this quality of financial credibility, your application to obtain or expand a credit line is more likely to be approved.
How can you prove that you are a good credit risk? Here are a few tips.