Reaching adulthood, our life enters a new stage. We learn how to make money, how to spin out cash and so on. As plain as a pikestaff, we are talking now about the material part of life. And one point with which everyone can face nowadays it is modest means incompatiable with current needs. At that rate many of us resort to loans. But frequently enough many of us are turned down, and the argument is-bad credit history.

So, what credit record is?

Credit record is an info about a landee, which includes the data about the preceeding credits, if they were paid off in time. Another way of putting it is that the lenders check lendee’s borrowing capacity.

Credit record is checked through credit reporting agencies. 

Based on the info taken from the credit reporting agency, the debtee comes to a dicision: to lend or not to lend.

What should you do to get the positive answer? To have a good credit record?

In very deed, there are some criteria, that will be of benefit to you.

Everyone can check his or her credit record addressing the credit reporting agency .In the United States of America there are three major agencies: Experian(tel.1-888-397-3742)TransUnion(tel.1-800-916-8800) and Equifax(tel.1-866-349-5191).

The main parameters that lenders make allowance for:

• delays in payment

  Unexpected payment delays can have a catastrophic affect on businesses

• the lengh of credit record

   Although it’s not the most heavily weighted factor used to calculate a borrower’s FICO score

• the last incurring of debt

  Another key feature of incurred debt is that it typically remains valid for a specific amount of time.

Taking all the aforesaid into consideration, eveyone should understand the following:

Take care for your credit score. Don’t draw upon a credit, if there are alternative ways to make money (a side job, relatives’ financial aid, etc). Make all the payments in time and don’t draw upon credit often enough. Be wise. And when there will be an urgent need of money, you won’t get refusal.