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Posted by: Judy on 2010-07-30, 03:21:18
Do you have a credit card? Never carry a balance and pay in full each month. This, with time, will give you those top scores. Use it for something you need like food or gas and pay in full each month. It is 100% myth that carrying balances is good for your credit. Nothing, but nothing could be further from the truth. Other rules: Never close your oldest credit account. Length of credit history is 15% of your rating. Never allow yourself to use more than 30% of your avaialble credit limits on your cards. Ex: $1,000 limit - never use more than $300 at any time during the month. Don't open too much new credit. New credit hurts ratings for the first 6 months. Ask more specific questions if you are still confused. There are many ways to build good credit such as making a secured loan at your bank. / |
