How to improve credit score? I can’t count how many people who ask about this question. Do you so? Here I give you some tips to help you to improve credit score. Have you ever heard that one should keep the credit card balances low in order to improve the credit score? You see, high debt can reduce your score. If you max out your credit card, you probably will lower the value even with 70 points.

Instead of having one card close to being maxed out, you can transfer the balance from this card to some other cards. Therefore, you can store your credit card balances at below 25% of your credit limit. You can also fix credit score by paying the debt if it possible.

Second information is doing not even try to close the account which is paid-off. You should keep in mind that closing the old account will reduces the total credit available, which in turn changes the ratio of your use of total credit available. Hence, it can lower your score. Closing your credit accounts shortens your credit history of the oldest, which also makes you seem less credit worthy, and then your score could go down.

Tags: fix credit

This entry was posted on Wednesday, February 17th, 2010 at 12:50 am and is filed under Credit. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.