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.
Read more about this topic: Credit Card
Famous quotes containing the words credit and/or history:
“Especially with our first child, we tend to take too much responsibility—both credit and blame—for everything. The more we want to be good parents, the more we tend to see ourselves as making or breaking our children.”
—Polly Berrien Berends (20th century)
“It’s nice to be a part of history but people should get it right. I may not be perfect, but I’m bloody close.”
—John Lydon (formerly Johnny Rotten)