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| *Loan,banking and credit>>>credit score |
What is your opinion on how to get a good credit score? |
Please answer in detail, you might just get those 10 points. I would like to hear from all kinds of people that have credit, so anyone old enough. Thank you. Pay off your bills responsibly. Pay off your entire credit card balance in full every month. Don't take out loans or credit cards that you don't absolutely need. Live within your means and budget your money. That's why my credit score is over 800. FICO credit scores are based on: Payment history - 35% Amounts owed - 30% Length of credit history - 15% New credit - 10% Types of credit used - 10% Source(s): www.myfico.com Pay your bills on time! Credit cards can be useful, but only if you pay your balance in full each month. Don't charge more than you currently have sitting in your bank account. Choose your lines of credit carefully, if you have a whole bunch of credit cards, this can decrease your score. But the caveat is that closing an existing credit card can also hurt your score. Listen to Dave Ramsey for entertainment and some advise. He has a podcast that is terrific. He says that you don't need credit at all, and in a way he has a point, but it is interesting anyway. Pay your long-term debt on time. (car loans, mortgages, stuff like that.) Get a few credit cards. Having about four credit cards is healthiest for your credit score. Having too few can hurt you more than help you. Having about four or five is best. Make sure you pay your credit cards off each month so as to not gain debt. Don't let other people with bad credit use you as a cosigner. That's about it. Have fun with it. Fiscal responsibility is the bottom line. You must be responsible with the debt that you have. Never make a late payment. If you do not have credit established, start by getting a secured credit card - that will add 30 points to your score automatically. Never go over 30% of your credit limit - if you do, it will tank your score. You can also try to get financing for a car, or a home appliance - sometimes they are more forgiving of fiscal mis-steps - or lack of credit history. credit consultant this has some good ideas to to get credit score visit |
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