We may be more in debt than ever before, but new research suggests that most borrowers are taking control of their credit history.
Statistics from MyCallcredit reveal that more than 73 per cent of borrowers cleared their credit card balances each month during 2004, and less than one per cent (0.76 per cent) of homeowners are having trouble meeting their mortgage payments.
However, the positive outlook combines with the worrying fact that almost six in ten people don't know how much they owe, and Britons owe more than £1,000 billion collectively.
According to MyCallcredit, it's vital to get a handle on your credit history if you don't want to be refused a loan or credit card in the future.
"So many different aspects of your life affect how a lender will view your suitability as a borrower and some of them aren't that obvious," said Alison Nicholson, director of MyCallcredit.
"So if you want to be sure of obtaining credit in the future you need to take control of your credit history."
Paying bills on time, keeping a record of your direct debits and informing credit card providers when you no longer need a card will all help keep your credit history trouble-free. Click here to find the best loan if your credit history is less than perfect.
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