Hi b.rich
For increasing your credit score all you need to do is to maintain a good credit history. Credit history constitutes about 35% of your credit score and so paying the debts on time is very important for boosting your credit score. So you man make regular utility payments with your credit cards and repay it on time. This may help you in building up a good credit history.
Yes, apart from this to have a good credit score should lower your spending on your credit cards. Try not to spend more than 30% of your credit limit. This will help you to improve your credit score. Another thing which is important for a good credit score is that you should not apply for multiple new lines of credit. This is because whenever you apply for a new credit, a hard inquiry is made on your credit report which lowers your credit score. This hard inquiry remains in your credit report for two years.
Mary and anthony have pointed out some really good points here, by establishing credit and then maintaining it or if you are working on rebuilding your credit, as many of us are here, you will need to stay away from applying for credit cards or other accounts. Keep a current payment on the bills you do have this will establish a good credit history and be sure to come here and post any questions or comments that you may have through out this process, LOL, just kidding on the last one. But anyone, welcome to the forum, I hope you stay and build your credit while having participation in our forum, look forward to conversating with you in the future. Goodluck on your goals of building your credit.
Welcome and stick around. You can get some really good advice here an how to build and even clean up your credit report. The more you post the more you learn and don't ever be afraid to ask questions!!
I found when I post I learn alot more. I use to just read the posts but then a lot of questions would jump in my head so I started asking and learning more than I ever thought there was to learn.
Hi b.rich
For increasing your credit score all you need to do is to maintain a good credit history. Credit history constitutes about 35% of your credit score and so paying the debts on time is very important for boosting your credit score. So you man make regular utility payments with your credit cards and repay it on time. This may help you in building up a good credit history.
Yes, apart from this to have a good credit score should lower your spending on your credit cards. Try not to spend more than 30% of your credit limit. This will help you to improve your credit score. Another thing which is important for a good credit score is that you should not apply for multiple new lines of credit. This is because whenever you apply for a new credit, a hard inquiry is made on your credit report which lowers your credit score. This hard inquiry remains in your credit report for two years.
Mary and anthony have pointed out some really good points here, by establishing credit and then maintaining it or if you are working on rebuilding your credit, as many of us are here, you will need to stay away from applying for credit cards or other accounts. Keep a current payment on the bills you do have this will establish a good credit history and be sure to come here and post any questions or comments that you may have through out this process, LOL, just kidding on the last one. But anyone, welcome to the forum, I hope you stay and build your credit while having participation in our forum, look forward to conversating with you in the future. Goodluck on your goals of building your credit.
Welcome and stick around. You can get some really good advice here an how to build and even clean up your credit report. The more you post the more you learn and don't ever be afraid to ask questions!!
True this is a good informational site. You will learn alot here and in turn start posting good responses yourself.
I found when I post I learn alot more. I use to just read the posts but then a lot of questions would jump in my head so I started asking and learning more than I ever thought there was to learn.
Bling, like a light bulb comes on?
Ya like a 100 watter.
Good post Mirage. Fine job!!