Keeping Good Credit

Lenders are wary of applicants who use a high proportion of their existing credit line. reducing your credit utilization ratio can boost your credit.

Day 3: Check your credit. Quick, what’s your credit score? If you have no clue, you’re not alone. Six in ten Americans couldn’t tell you their credit score if you asked them, according to a survey.

Credit experts are quick to point out that while having too many credit cards can hurt your credit score, but you need to focus on keeping your debt-to-credit ratio below 30%.. Good reasons.

4 days ago · Though paying your bills on time is one of the best ways to build a good credit score, it’s not the only important factor. How much you owe compared with your credit limits — your credit.

Credit experts trumpet the axiom that you should keep your credit utilization ratio – how much of your total available credit you use – below 30% to maintain a good or excellent credit score.

Building good credit takes work, but it can be done. Find out five things you can do to build a healthy credit score while avoiding the pitfalls.

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Keeping Good Credit. Keeping your credit positive and strong involves six steps: Pay your bills on time and as agreed. This will have the greatest impact on both your credit reports and scores. Keep the proportion of the credit you use low compared with credit limits. This applies to credit and charge cards as well as lines of credit.

Keeping your card balances under 30 percent of your total available credit is good, but not carrying any balance is better. Length of credit history. You not only need to show that you can handle credit, but you must show you can handle it over a period of time .

 · Even fewer are above the 800 mark. Anyone can attain a strong credit score simply by practicing the tried-and-true methods of good credit management: pay your bills on time and keep.

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Maintaining a good credit score is vital if you want to apply for loans or credit cards. Follow these 14 tips and you’re sure to stay in good standing. There are plenty of things you can do to maintain the good credit score you’ve worked so hard to build, and one excellent reason why you should care: money.