People with great credit scores have earned them for a reason they have always borrowed money, and paid it back on time. Theres really no trick to what theyve done, and there is no one action that will help you get a great credit score. When someone asks me how to earn a good credit score, I tell them to look at the spending habits of those with great scores, and to develop the same habits. Here are the 7 habits of people with great credit scores.
1) Never Pay Cash
People with great credit scores want every purchase to count. And a purchase doesnt count unless the 3 bureaus know about it! The only way to make sure that the bureaus know how much money youre spending is to put everything on your card(s.) Rather than deposit your paycheck and spend, think of your spending as a monetary cycle: Put your paycheck in the bank, spend with your credit cards, and pay off the cards with the funds youve already deposited. Its one extra step that pays off big with the added security and boost to your score that credit cards provide. Credit cards arent just for larger purchases anymore. Using your credit cards for items like soft drinks and gum has become so common that credit...