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Credit Utilization Ratio

A credit utilization ratio is a calculation of how much debt you have versus your credit limit.  The credit utilization ratio is calculated by looking at your credit limits and determining how much of the limit you have used. If you have $500 on a credit card and you...

Pay Debt As You Go

Pay off accounts in full each month to increase your scores.  When you only spend what you can afford, then your credit usage is low, you can make on time payments, and you increase your credit scores. Financial health and great credit work on the ability to actually...

Why You Should Have Multiple Credit Types

Multiple types of credit help you show a well rounded credit portfolio The types of credit you have will weigh less in your credit score calculation since it is only 10% of the score. However, that 10% still matters. If you have only credit cards, then you show a...

Keep Old Credit Accounts Open

Utilize the length of credit in the calculation Remember that after seven years you can remove delinquent or negative credit information. So, why would you want to keep old credit accounts open, if you don’t see a use for them anymore? As we have been going through...

Make Multiple Monthly Payments

Payment consistency and debt reduction, increase your scores. There has never been a time when multiple monthly payments were bad for your credit score and credit “appearance.” However, financial experts started pushing the multiple payment strategy in the last 8...

Get An Increased Credit Card Limit

Working the Debt Amount Owed The second most important percentage FICO uses to assess your creditworthiness and thus determine your credit score is “amount owed.” The more you owe, without a savings account to pay it all off—the lower your credit score is...

Building Credit Through a Family Account

Building or Rebuilding Your Credit through the Family Are you just starting out? Perhaps you just graduated high school and are headed off to college? The first thing you are probably going to do towards building your credit history is take out student loans. Student...

Benefits of Secured Credit Cards

Establish Credit History with Money you have The usage of a secured credit card for raising your credit score is another new millennium concept. Stephen Snyder, Credit Karma, and Credit.com all discuss the use of a secured credit card to improve your credit score. A...

The Value of Automatic Payments

Automatic ACH Payments Provide Reliability Yes, there are still some accounts you don’t want to get paid automatically. Utilities that change each month can affect your budget. If you don’t have the money, then your bank account can suddenly get...

Improve Your Credit History

Begin Paying your Debts on Time by Establishing a Budget It seems so simple, and it is. Every credit repair strategy you are going to see online or in books will tell you the same thing—you can repair your credit by paying on time. The first steps to improving your...