Credit History
The way credit card owners pay off their balances has a tremendous effect on their credit history. Two of the most important factors reported to a credit bureau are the timeliness of the debt payments and the amount of debt to credit limit. Lenders want to see payments made as agreed, usually on a monthly basis, and a credit balance of around one-third the credit limit. The credit information stays on the credit report generally for 7 years. However, there are a few jurisdictions and situations where the timeframe might differ.
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Famous quotes containing the words credit and/or history:
““What are the characteristics of today’s world so that one may recognize it by them?” It pays pensions and borrows money: credit and monuments.”
—Franz Grillparzer (1791–1872)
“Universal history is the history of a few metaphors.”
—Jorge Luis Borges (1899–1986)