Increase Credit Score What Not To Do

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Increase Credit ScoreWhat Not To Do

Stop hurting your credit. Whatever proactive steps you are taking to increase your credit score, they will be undermined by bad habits that hurt your score. Here are the most common damaging habits:

• Maxing out credit cards• Missing payments• Lowering credit limits• Consolidating accounts• Applying for too much or unnecessary credit• Not keeping accounts active

Increase Credit ScoreWhat Not To Do

Your Balance Credit Limit

To Increase Credit Score, Tip #1

Stop maxing out your credit card(s) and other credit lines.

Increase Credit ScoreWhat Not To Do

To Increase Credit Score, Tip #2

Don't miss payments. Missing just one monthly payment could decrease your score by up to 100 points.

Increase Credit ScoreWhat Not To Do

To Increase Credit Score, Tip #3

Don't request to have your limits lowered. Once you have accepted a credit limit, you are stuck with it unless you are willing to take a hit.

Balance

Limit

LimitReduced

Increase Credit ScoreWhat Not To Do

To Increase Credit Score, Tip #4

Be careful with consolidating your accounts. Transferring balances from a high-limit card to a lower-limit card or transferring all or most of your credit-card balances onto a single card can hurt credit scores.

Increase Credit ScoreWhat Not To Do

To Increase Credit Score, Tip #5

Don't apply for too much new credit. Applying for new credit is a dichotomy. Have a mix of different types of loans. You should have at least one installment and two revolving credit accounts.

Increase Credit ScoreWhat Not To Do

To Increase Credit Score, Tip #6

keep credit accounts active. You can't increase your credit scores if you don't use credit. But, there is a fine line between using credit to your advantage and carrying too much debt.

Increase Credit ScoreWhat Not To Do

Creditor Status Account Type

Bank One Open Revolving

Mortgage Optional Revolving RevolvingInstallment

850

300

750