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Keep Scores on a High: A Credit Guideline to Follow By

By George Hauser
Published: Wednesday, October 7th, 2009

After reading about the benefits of high credit scores through a credit score advice, one can really get excited about the advantages it has regarding loans and insurance. When we see that companies allow you to get loans for new businesses or investments, when we maintain good credit performance, we might want to consider changing our money habits and going for higher credit scores. Know your benefits through a credible credit score advice!

So how do we actually keep our credit scores high?

The best way to star is by paying for credit card debt. You can either pay before bills are due or pay on time. Consistency in paying on time will grant you a raise in credit scores by an estimate of 15-20 points. This does not only pertain to your credit card debt. It’s better if you also consider paying for all other loan payments on time. Late payments in loans like car or mortgage, penalizes you by deducting as high as 100 points from your credit score. So be careful in dealing with your debts and always pay on time.

If you’re having financial trouble and are in a situation where are unsure of your financial status, a good decision is to take a look at your credit report. You can actually get your credit report for free. You may want to check on websites that provide this service. By having a copy of your credit report, you yourself, have the advantage to fix your problems and pay your debts before it’s too late. When you have several credit cards and you have a problem regarding which one you have to pay for first, one good credit score advice is to pay credit card dues that are already near their limit. By doing so, you are reducing the potential for losing more points than expected. Several sources say that the best solution in achieving high scores, despite the variety of cards, is to get your balance (for each card), below at least 30% of your credit limit. However, you must also beware of the idea of having too many cards. Having more than three or four cards makes you appear like you are in debt. Learn to use your cards in moderation.

Also, know what you are capable of with a reputable credit score advice. Bookmark the websites that help you learn about credit if you have to because the more you are aware of your characteristics as a credit card user, the more you gain control over your money. Another step to help you is through knowing your credit limit. By knowing the maximum amount of money you can spend on your card, you can easily compute if your current expenses and card transactions are closed to the finish line of not. This will allow you to reduce your overspending tendencies and put you back on track.

Lastly, be aware of your entire financial status through a credit score advice. How many credit cards do you have? How much do you spend monthly? Know if your other credit card accounts are still updated or not. By maintaining all forms of credit transactions well, your scores will rise higher in no time!

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