Ten Real Keys to a Good Credit Score

You know how important your credit score is, so try these ten approaches to make your credit score soar.

1.Don't ever close your oldest accounts - these give your credit history its timeline and the longer, the better.
2.Have a good mix of credit. This includes retail store charges, car loans, credit cards, gas cards, mortgages.
3.Have someone co-sign for a credit card. Ask a close friend or family member with good credit to add you to their account as a signer. This is known as “piggybacking” and allows you to leverage the good history as your own.
4.Don't ever max out a credit card by combining all your debt on it if it puts you near your limit. Instead, spread a large debt over two or more low interest cards.
5.Call creditors to ask for a lower interest rate. Many will give it to you. If you don't ask, they won't offer.
6.Work out a payment plan with creditors if you're struggling. This will prevent your account from being turned over to collection agencies - the kiss of death to your credit score.
7.Ask a family member for a loan to pay off debt; their terms will likely be far more agreeable.
8.Increase your credit limits. This will help your credit utilization ratio. When your limits are increased, your existing debt represents a lesser percentage of your total available credit (the goal is to bring it under 30%). But do NOT increase your balances.
9.Pay bills immediately as they arrive. If you send the money out before the next statement is generated, your creditor will report your paid balance ($0) versus your statement balance (what you owed).
10.Use old cards occasionally. Your oldest accounts count toward your credit history length but may not be factored in if you don't use them every 6 months or so.
Soon, you’ll be on your way to excellent credit health and can use your credit rating to save money each month through lower interest rates on new loans and credit cards.