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Ways on Maintaining a Good Credit Score

By George Hauser
Published: Friday, July 2nd, 2010

Your credit score plays a very important role when you wanted to enjoy the best rate ever. The kind of credit score you have mirrors what kind of creditor you are. If you are able to maintain a good score, of course lenders would be confident financing you. Businesses would not want to invest their money to someone who is not that mindful with his credits.

If you wanted to keep a good score or be able to maintain a good one, here are some things you can do:

There sure is nothing wrong paying your debts until the grace period is due but it is more recommendable that you make bill payment on time. Aside from paying on time, try to keep your balance low as well. Doing these would help you make a better score.

When you’re trying to improve your scores, you will be hearing different suggestions on how you could achieve it. If you don’t get careful with your decisions you might only compromise your score. If you receive an advice asking you to close all your unused accounts better be wise to say no. aside from being useless, it might even hurt you.

Now if you decide to cut down using your cards and better maintain the oldest one for it could make a good impression about your credit history. The longer you have the account, the better it is. Choosing to maintain your newer card would make you seem a new borrower thus having a shorter credit history. When you are planning on maxing out your cards, transfer your balances to it or another option is spreading out all the charges amongst your cards.

Are you considering of applying for a mortgage and would like to boost your score quickly? If you have been making a lot of delayed payments then you might not be able to lucky enough to achieve it but good news is that you can opt for a rapid rescoring. This is done by correcting some credit errors and paying off any existing account balances.  If you decide to improve your scores through rapid rescoring, you will need the help of a company which renders such service. You may be charged a rough amount of $50 for every of your account on your credit report which you wanted to be addressed but it could help you save thousands of bucks on your loan. New information about your credit report could are usually posted in seventy-two hours.

The power of our credit score all depends on us; on how we handle then and how much we are willing to repair and rebuild them.  The best way not to be too worried about our credit score is be the wisest shopper. Use your cards wisely and practically and make sure that no bills are left unpaid.

Being too lax with our credit could cost us some trouble in the future. As the classical saying goes, ‘an ounce of prevention is worth more than a pound of cure. ‘

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