Top Credit Tips - The Four Most Important Factors Regarding Credit
1.
Pay all of your bills on time.
Know what bills report to the bureaus and which ones don't.
This will assist to preserve a better rating.
Do not let accounts go to collection.
2.
Limit your balances on all revolving accounts, for example home equity lines and charge cards to approximately twenty to thirty nine percent of your credit limit.
For example, If you have two charge cards with balances of two hundred fifty dollars each and a limit on both of one thousand dollars this is ideal.
Do not max out your charge cards since it is better to have small balances on three cards than to have one big balance on one card.
3.
Two to four credit cards is the goal of open accounts to have.
Make certain that you do not shut down credit card accounts when you pay them off.
Your length of credit history and how long you have had them open is a large factor in credit scoring.
For example, if you have a ton of credit cards, shut down the newer ones and keep the ones that have been open for a long open.
4.
Credit inquiries are just as important.
Observe how many people are pulling your credit because you do not want to have numerous credit inquiries on your report.
Notwithstanding, when you are shopping for a credit card, store card, mortgage or anything for that matter, make certain you do all of your shopping around within a two week time frame because all related credit inquiries within this time frame will only impact your credit as though only one company checked your credit.
Pay all of your bills on time.
Know what bills report to the bureaus and which ones don't.
This will assist to preserve a better rating.
Do not let accounts go to collection.
2.
Limit your balances on all revolving accounts, for example home equity lines and charge cards to approximately twenty to thirty nine percent of your credit limit.
For example, If you have two charge cards with balances of two hundred fifty dollars each and a limit on both of one thousand dollars this is ideal.
Do not max out your charge cards since it is better to have small balances on three cards than to have one big balance on one card.
3.
Two to four credit cards is the goal of open accounts to have.
Make certain that you do not shut down credit card accounts when you pay them off.
Your length of credit history and how long you have had them open is a large factor in credit scoring.
For example, if you have a ton of credit cards, shut down the newer ones and keep the ones that have been open for a long open.
4.
Credit inquiries are just as important.
Observe how many people are pulling your credit because you do not want to have numerous credit inquiries on your report.
Notwithstanding, when you are shopping for a credit card, store card, mortgage or anything for that matter, make certain you do all of your shopping around within a two week time frame because all related credit inquiries within this time frame will only impact your credit as though only one company checked your credit.
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