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Having a good credit rating in this day and age is becoming an increasingly rare thing, and if you are one of the lucky ones that does not have damaged credit then this is the way you need to keep it. Maintaining good credit offers many benefits, not least of which is being able to get some really great deals on all sorts of finance in the future, whether you are looking for a car loan, mortgage, credit card, personal loan, or any other type of finance.

Damaging your credit can be very easily done, yet rebuilding it can be notoriously difficult. This is why it is so important to try and keep your credit looking as good as possible. Below you will find five effective tips to try and help you to maintain good credit:

1. Make sure you keep up with repayments on your debts. Whether you have credit cards, loans, car finance, or any other type of debt it is vital that you make regular, timely repayments for at least the amount requested. This is particularly important with mortgage repayments, as otherwise you could end up losing your home as well as your good credit.

2. Pay your bills on time. In addition to making debt repayments on time you also need to remember that making bill payments on time is important when it comes to maintaining good credit. This means everything from your council tax to your utilities. When you make late bill payments or miss payments this is logged on your report, and this can quickly damage your credit rating.

3. Don't apply for finance right away if you are turned down. If at any point you apply for finance and you are turned down make sure you find out why you have been refused before you apply for finance again, as mass applications could end up damaging your credit.

4. Check your credit. It is important that you check your credit report on a fairly regular basis, as this can help to flag up any dangers that could result in your credit rating getting damaged. You should order and check your credit report at least once a year to keep an eye on your finances and avoid ending up with tarnished credit.

5. Don't let others take finance out in your name. It may seem tempting to take out a credit card or loan on behalf of a loved one or a friend, but there is no guarantee that the money will be repaid, and it is your credit rating that will suffer the effects of missed repayments.