Bad Credit Loans

 

Five Credit Mistakes Made By Rookies
by Matthew Gause

Fifth Mistake-Opening accounts that don’t report to credit bureaus. You might be surprised to find that there are some lines of credit that don’t report to credit bureaus. Surposedly to save from you having a bad credit report. These accounts will not report good credit history but if there’s trouble they will turn your account over to collections. In other words, they will work against you but not for you. Whenever you apply for a new account ask the question “Do you report to all three credit bureaus?” If they don’t, apply for something else that does.

A common mistake rookies make is using friends and family for loans instead of going to a bank. Even if you’re fortunate enough to get a loan from a family member you might consider getting a traditional loan from a bank. It might be more of a pain but the rewards for doing so are big. Number one, you start your own credit history. Number two, you don’t have to strain any relationship you have with that person.

By avoiding these five mistakes you’ll be on your way to building a great credit score.

Matthew Gause holds an MBA from Utah State University and is the owner of http://findthebestcreditcards.com. Matthew lives in Orem, Utah with his wife and two daughters. Read more articles like http://findthebestcreditcards.com/Free-Credit-Report-Without-Credit-Card/ and http://findthebestcreditcards.com/Credit_Card_Gas_Rebate/.

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