by William Bond

Created on: August 11, 2008   Last Updated: September 10, 2009

You can raise your credit score by paying your credit card in time, paying more than the minimum payment and even better, paying your total balance off each month. The average household in 2007 owes over $l0,000.00 to their credit card companies. There are a number of tips to get your credit score higher, so you can take advantage of the lower interest rates available to you, and save a great deal of money on interest rates. I will offer you some tips to increase your credit card score today. Tip$One:Pay your payments on time, nothing increases you credit card interest more than late payments. Mail your payment at least l0 days before the due date. Pay your credit card bills before other bills each month, this will help you get your credit score higher. Tip$Two: Never, never go over your credit limit. Use a card that has a high enough limit, to make the purchase, than take the chance of going over your limit. Going over your credit card limit can increase your interest rate to 30% yearly, avoid this at all costs. Tip$Three: Try to keep all your credit limits to l/3 of the total limit. From example, if the credit limit is $l0,000, then try to keep you credit card balance, at 30% of total credit limit, or at $3,000, with over $7,000 left to use. When your credit bureau sees this balance you will give you a higher credit score. Also, if you keep you balances low, and you get into an emergency, you can then make the needed purchase to deal with it. Tip$Four: Read your credit reports, regularly, this is not your credit score, this is a listing put out by the major credit bureaus, based on your payments to your creditors, including bank mortgage payments, all you credit cards, and other payments for goods and services purchased by credit. If you see some information on the credit report, that you disagree on, such as late payments, request for credit, or any other information you cannot identity, write an email, or letter to the credit bureau and request that they take this off for you. Tip$Five: Make sure that you are aware of any changes to your due date for payments, or changes in rates or rules. Too often credit card users fail to read all notices included in their statements, letters, and memorandums on their credit card. Read these notices carefully, and if you have any questions, call your credit card companies, their 800 number is listed on the back of your card. Tip$ Six: Never be afraid to call, write, or email your card card company, or credit bureau, or the store you did business with, using your credit card. Become your financial manager of your credit use. You must play hard ball, which means stick up for the #l person: You. Guard your credit as much as any important resource in your life. The more effort you can make in the handling of your credit and credit cards, will help you succeed financially in you life.

Learn more about this author, William Bond.
Click here to send this author comments or questions.