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How to Keep Your Credit in “Good Shape”

By Juan Miguel Lopez

Like Ralph Waldo Emerson said: “The first wealth is health.” So, in the same way that we invest our time to take care of our health, we should do to protect our credit. Our credit is to our finances what our health is to our body: If it’s not healthy, it can cause us many complications. Taking care of our finances is the first step to a prosperous life, and it does not require much effort, just discipline and perseverance.

If you’re wondering: What should I do to have a healthy credit? It’s very simple, just follow these tips, similar to a routine diet, and see the positive results that you can obtain in less than you imagined.

1. Establish a routine the same way you would do to lose weight. Take control of all payment dates, as well as the cash inflows and outflows. To stay fit you must create a daily exercise routine and be consistent. If you make your payments on time, you could reduce the negative state of your credit from 30 to 100 points!

2. Don’t check your credit report continuously. When you’re trying to loose weight, it’s inevitable to want to check

the scale to see how many pounds you’ve lost. However, seeing the numbers constantly reminds you that there may be no rapid change and it can discourage you. The credit situation is similar. If you want your score

to climb, do not monitor your credit continuously. For every time you check your credit score, you take away 2 points!

3. Do not apply excessively for loans or credit cards. If you try starting each week with a different diet, it will be hard for you to get a productive outcome. The same thing happens with your credit when you apply for several credit cards or loans in a short period of time. If you know that you do not qualify, do not attempt to apply! Every time your credit is subject to verification, 2 points are deducted from your score.

4. Go easy on credit cards. Eating too much can cause an upset stomach and indigestion. Exceeding the limit of your credit cards will lower your credit score. The best practice is to use only 50% of the credit limit.

Remember: You are solely responsible for your health and your credit. It is up to you how you handle your finances. Be consistent in the timeliness of your payments, no matter the amount. Your credit is like a fingerprint; it’s unique and only yours.

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