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:
“To act the part of a true friend requires more conscientious feeling than to fill with credit and complacency any other station or capacity in social life.”
—Sarah Ellis (1812–1872)
“A people without history
Is not redeemed from time, for history is a pattern
Of timeless moments.”
—T.S. (Thomas Stearns)