If you want to see an improvement in your credit score scale, there isn’t an application to take the “I want a better credit score” test. Your credit information is a reflection of your fiscal habits.
We emphasized this point in our previous posts, but we’re going to revisit it.
We’re doing this to stress the importance of paying your bills regularly and on time.
There’s no getting around this point. While you may be able to negotiate a more manageable payment plan with your creditor, you’re still going to have to make regular payments.
Once you’ve paid off a decent portion of your credit cards, commit to keeping the balance on each line of credit low. If you’ve achieved paying off your high balances, there is no worse feeling than watching the bill creep back up again.
The ideal level of debt to maintain is a 30% use of your available credit limit. This is a number that represents your use over a variety of different credit lines, not just with each card or line of credit you have.
While it’s tempting to apply for your local department store’s credit card, it’s best to make sure you’re monitoring the number of credit card lines you have open.