Give Your Credit Score a Tune-Up
Learn More About Your Credit Score During Credit Education Month
(firmenpresse) - MILWAUKEE, WI -- (Marketwire) -- 03/07/13 -- Understanding your credit score can be complicated, but when managed, can work to your advantage. A credit score has a major impact on your financial life. March is national Credit Education Month and the experts at BMO Harris Bank, want to help you understand and improve your credit.
"A good credit score is important in many aspects of your life," said Kara Kaiser, Regional President, BMO Harris Bank. "It can make the difference in receiving approval for a mortgage, car loan eligibility and credit card interest rates. A good credit score can lead to better rates and less interest paid throughout your lifetime."
In honor of Credit Education Month, Kaiser offers a few tips to manage and improve your credit.
This should be done at least 60 days or 90 days before applying for a loan in order to make sure that the report is correct. If it's incorrect, make sure to notify a credit agency before you apply for a loan.
When a bill is paid late, or is even 30 days past due, it can show up on your credit report for up to seven years.
Although it is generally considered a plus to have established credit accounts, too many credit card accounts may have a negative effect on your score.
Some credit card companies allow you to do this as a courtesy, but it can negatively reflect on your ability to handle your account.
If you never use credit of any kind, it doesn't mean that you'll have a great credit history. Lenders generally prefer to see some type of satisfactory payment history.
Each time you apply for a loan or credit card, an inquiry from that lender will be reflected on your credit report. Inquiries may affect your credit score.
Racking up big balances can hurt your scores, regardless of whether you pay your bills in full each month. You often can increase your score by keeping balances low.
Applying for a new account, transferring balances, or concentrating all of your credit-card balances onto a single card may result in a lower credit score.
Managing your credit score does not have to become a source of anxiety or stress. Take advantage of this Credit Education Month to learn more about your credit score and ways to improve it. A clean credit report and good score can help you with future loans and interest rates. For more information on improving your credit, visit or .
BMO Harris Bank provides a broad range of personal banking products and solutions through over 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. For more information about BMO Harris Bank, go to the company fact sheet. Deposit and loan products and services provided by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank(SM) is a trade name used by BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with approximately 1,600 branches, and approximately $525 billion in assets (as of Oct. 31, 2012).
Media Contact:
Vanessa Hall
312-461-6543
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 07.03.2013 - 19:17 Uhr
Sprache: Deutsch
News-ID 237303
Anzahl Zeichen: 0
contact information:
Town:
MILWAUKEE, WI
Kategorie:
Commercial & Investment Banking
Diese Pressemitteilung wurde bisher 204 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Give Your Credit Score a Tune-Up"
steht unter der journalistisch-redaktionellen Verantwortung von
BMO Harris Bank (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
