How's Your Credit Rating?

Well, this is my first credit-related blog. Just for information purposes, I prefer to spend in cash. In fact, I was not the one who applied for all the credit cards I have. If ever I do use credit cards, my credit card purchases are simply for small personal purposes. I also see to it that all credit card balances are paid before the due date. This way, I don't worry about some exorbitant fees being imposed on unpaid balances. Except for the small loans I have applied wherein I opted for a shorter period repayment, cash is still my first choice. But business is business, and in business, some credits are good :D

Other people take advantage of the spending freedom credit cards provide. More and more establishments accept credit card payments. And I observed that some people are now becoming impulsive buyer because they have credit cards with them. Some people keeps on applying for loans until there's almost nothing left of their monthly salaries. Little did I know that reports from credit cards, personal loans and insurances to name a few are used by other businessmen. The collated information is coined credit report. Now, if a person has too many unpaid bills and keep on piling up, credit report ratings are very low.

I am surprised to find some businesses that can raise or repair credit scores. How they do it is still a mystery to me. I have not bothered checking on my own credit score. Maybe, it is because I still do not see an immediate need for it. What I only know is that big businesses should have high credit scores before they transact with other businesses. Or, they will pay everything in cash.