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:
“If you love those who love you, what credit is that to you? For even sinners love those who love them.”
—Bible: New Testament, Luke 6:32.
“The history of all countries shows that the working class exclusively by its own effort is able to develop only trade-union consciousness.”
—Vladimir Ilyich Lenin (1870–1924)