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Always ensure that all bills at any calendar month are paid without skipping and in case that one skips or forgets, one should set automated reminders or automated payment modes (there are automated bills or loan repayment ways online); and on the alternative, one should update his or her pay to current and try as licensed money lenders singapore much to be consistent in repayment.

3. In instances where one forgets or fails to pay on time due to one reason or the other, it is advised to be better late than never and even in instances where one has less than the actual amount they are supposed to pay, it is highly recommended that one pays part of the debts with what they have, to reduce over-accumulation of debts. This is much better than total failure in repaying the debts and it goes a mile in saving one’s credit scores.

4. When there is extra cash or income, one should pay down their debts and even more so when the debt balances are quite high. This has a great positive impact on one’s credit credentials.

5. One should at all times maintain minimum credit accounts and should never close credit account, especially for a long used credit account, as it has a negative implications on one’s credit history. If one has to close any credit account, should close only new accounts and or one that already has finances running and as it should be. This way, the moneylender will not get the impression that one is closing the account since they can no longer run it.

One should always remember that he or she needs to build a positive credit history; if at all one would want to benefit or qualify for credits.

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