It is always important to know your financial status, particularly when you are going for a credit card or taking a loan. It will also be helpful when one is facing an emergency situation. A clear knowledge about your financial status gives you a better ability of bargaining and setting the terms.
Following are steps to ascertain financial eligibility:
It is quite easy for someone else to default in your name after stealing your identity. This is why constant credit monitoring is highly recommended. One should check his credit report at least once in every 6 months in order to keep a track. Make sure that the debt to income ratio is not unhealthy. Debt should never cross more than 40% of your earning.
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