{"id":1524,"date":"2020-11-01T12:28:25","date_gmt":"2020-11-01T08:28:25","guid":{"rendered":"https:\/\/moneymall.ae\/credit-blog\/?p=1524"},"modified":"2020-11-01T12:31:35","modified_gmt":"2020-11-01T08:31:35","slug":"aecb-bureau-credit-report","status":"publish","type":"post","link":"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/","title":{"rendered":"How important is AECB bureau credit report in your retirement?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Financial management is the topmost concern for people in or approaching retirement. You have likely worked to build a good bureau credit report and properly manage your finances for several years. Having a good credit score in retirement is important for many reasons. Thankfully, the actions you take before retirement to maintain a credit score are the same ones you will take after leaving the workforce. <\/span><\/p>\n<h1><span class=\"ez-toc-section\" id=\"Read_on_to_discover_why_the_AECB_bureau_credit_report_is_important_in_retirement_and_how_you_can_maintain_it%E2%80%A6\"><\/span><span style=\"font-weight: 400;\">Read on to discover why the AECB bureau credit report is important in retirement and how you can maintain it&#8230;<\/span><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2328ff793cd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2328ff793cd\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/#Read_on_to_discover_why_the_AECB_bureau_credit_report_is_important_in_retirement_and_how_you_can_maintain_it%E2%80%A6\" >Read on to discover why the AECB bureau credit report is important in retirement and how you can maintain it&#8230;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/#Why_does_AECB_bureau_credit_report_matter_in_retirement\" >Why does AECB bureau credit report matter in retirement?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/#High-interest_rates\" >High-interest rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/#Security_deposits\" >Security deposits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/#Low_insurance_premiums\" >Low insurance premiums<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/#How_can_you_maintain_your_credit_score_in_retirement\" >How can you maintain your credit score in retirement?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/#Pay_your_credit_card_bills_on_time_and_in_full\" >Pay your credit card bills on time and in full<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/#Keep_a_low_credit_outstanding_balance\" >Keep a low credit outstanding balance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/#Review_your_AECB_bureau_credit_report\" >Review your AECB bureau credit report<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/#Keep_accounts_with_long_histories_open\" >Keep accounts with long histories open<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/#Maintain_your_active_accounts\" >Maintain your active accounts<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<figure id=\"attachment_1735\" aria-describedby=\"caption-attachment-1735\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/moneymall.ae\/credit-blog\/aecb-bureau-credit-report\/bureau-credit-report\/\" rel=\"attachment wp-att-1735\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1735\" src=\"https:\/\/moneymall.ae\/credit-blog\/wp-content\/uploads\/2020\/09\/bureau-credit-report.jpg\" alt=\"bureau credit report\" width=\"1280\" height=\"669\" \/><\/a><figcaption id=\"caption-attachment-1735\" class=\"wp-caption-text\">bureau credit report<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Why_does_AECB_bureau_credit_report_matter_in_retirement\"><\/span><b>Why does AECB bureau credit report matter in retirement?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Many retirees assume once they retire that their borrowing days are over. However, this is far from the case for most retirees. Here are some of the most common ways a low credit score can affect your retirement:<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"High-interest_rates\"><\/span><b>High-interest rates<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">It is common for credit companies to monitor credit scores for their existing clients. This helps them to adjust interest rates. If you have outstanding credit card debt, your credit card company may increase your interest rate if your credit score drops. The company also reserves the right to decrease your borrowing limit if your credit score declines significantly. In situations where your account gets flagged, they may even close your account. That is why it is important to maintain a high credit score to stay in favour with your credit card companies<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Security_deposits\"><\/span><b>Security deposits<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Many retirees choose to move during retirement. This may mean having to put down a security deposit at a retirement community or a new condo. Most rental agencies will run a credit report to determine your eligibility to live in the community and assess your ability to pay your rent or bills on time. If your credit score isn\u2019t favorable, your new community may either ask for a larger security deposit or reserve the right to turn you away. In addition to a housing situation, you may have to put a deposit down on other large purchases. This may include construction gear if you are building a new home, or something as small as a Wi-Fi router from your cable company. If you cannot prove good credit, you may be asked to put down a significantly larger deposit or be declined to rent the equipment in question.<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Low_insurance_premiums\"><\/span><b>Low insurance premiums<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When insurance companies such as your auto or homeowner\u2019s insurance providers evaluate potential customers, they take your credit score in to account. They may use information from your credit report to decide what your rate is or if they will offer you coverage. The lower your premiums, the more money you\u2019ll have to spend during retirement. So, keep your premiums as low as possible by maintaining a good credit score in retirement.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_can_you_maintain_your_credit_score_in_retirement\"><\/span><b>How can you maintain your credit score in retirement?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">To maintain or increase your credit in retirement, you should continue building the same financial habits you did while in the workforce. These habits include making your payments in full and on time, and various other positive habits. Here are a few steps that you can take to maintain a good credit report and score in retirement:<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Pay_your_credit_card_bills_on_time_and_in_full\"><\/span><b>Pay your credit card bills on time and in full<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Making on-time payments is a huge step in making sure you have a clean credit report. Even one late payment can cause your credit score to drop tens of points. If you miss a payment, make a delayed payment, or have your balance sent to a third-party collection agency, it can severely damage your score long-term. Additionally, if you declare bankruptcy, it can take over a decade to build your score back up. You may want to set reminders on your calendar to make monthly or bimonthly payments. Most credit card companies will accept payment over the phone and nearly every company accepts payment online. Make sure you stay organized and pay your balances in-full and on-time.<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Keep_a_low_credit_outstanding_balance\"><\/span><b>Keep a low credit outstanding balance<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">You may wonder how low you should keep your credit balances. The rule of thumb is to utilize less than 30% of the credit offered to you. For example, if your credit limit is AED 10,000, then you should never have a balance of more than AED 3,000. If you are worried about keeping a balance below 30%, there are two things you can do. First, you can keep it low by making more frequent payments so that your balance does not exceed 30% of your line of credit. Second, you can call your credit card company and see if they can increase your credit limit. This is only recommended if you are disciplined about your spending and can pay off the balance in full.<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Review_your_AECB_bureau_credit_report\"><\/span><b>Review your AECB bureau credit report<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">While reviewing your credit report won\u2019t impact the score, being aware of what\u2019s on your report is beneficial for several reasons. First, when you know what is on your score, you will also be able to spot any potential discrepancies such as fraudulent activity. Additionally, by reviewing your score, you are keeping your financial health top of mind. This will make it easier to make financial decisions that may impact your credit score.<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Keep_accounts_with_long_histories_open\"><\/span><b>Keep accounts with long histories open<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The age of your accounts is a factor in measuring your credit score. Even if you are not using a credit card, keep it open if it does not have a fee associated with it. This will increase the average age of your accounts and can help boost your credit score. This is especially true if you have a history of on-time payments with the accounts.<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Maintain_your_active_accounts\"><\/span><b>Maintain your active accounts<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">While you should keep accounts open that you don\u2019t need, it may be wise to keep them active. This may mean making a small purchase on them occasionally. Active accounts tend to help raise credit scores a bit more than cards that are not used. You may want to buy a tank of gas each month or put a subscription such as Netflix on the card to keep it active.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial management is the topmost concern for people in or approaching retirement. You have likely worked to build a good [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[441,438,63,440,439],"class_list":["post-1524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-credit-score-report","tag-aecb-credit-report-online","tag-bureau-credit-report","tag-credit-report-uae","tag-etihad-credit-report","tag-free-credit-report"],"_links":{"self":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts\/1524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/comments?post=1524"}],"version-history":[{"count":5,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts\/1524\/revisions"}],"predecessor-version":[{"id":1740,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts\/1524\/revisions\/1740"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/media\/1525"}],"wp:attachment":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/media?parent=1524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/categories?post=1524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/tags?post=1524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}