The majority of people with a low credit score have likely misused credit. Understandably, some people develop bad credit because of situations beyond their control. These may include sickness, loss of employment, etc. Fortunately, there are ways to raise your credit score. However, to keep a high credit score, using credit wisely is a must. Here are a few tips to help you maintain a high credit rating.
Limit the Amount of Credit Accounts
If you have too much available credit, the temptation to spend money will arise. To avoid this common problem, avoid opening several lines of credit. If you are a student or have good credit, it is easy to get approved for a major credit card. Although credit card companies will generously extend credit, you do not have to accept their offer.
Closing a credit account may decrease your credit rating. If you are unable to exercise self-control and need to close a few credit accounts, it would be better to cancel the newest credit accounts.
Pay More than the Minimum Payments
Carrying a small revolving credit card balance is not harmful. However, if you use your credit card very regularly, it is essential to...
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