Raising Your Credit Score

Who doesn't want to raise their credit score? A1 credit can be yours through active and responsible credit management and it's easier than you may think.

Following these golden rules will rocket you above and beyond the ideal 650 fico score range.

The first rule is to make punctual payments! Payments of 30, 60, 90+ days late stay on your report for 7 YEARS!!!! Yikes! Avoid making late payments at all costs, make a minimum payment or a strike a deal with the creditor. Collect cans from the garbage for recycling if you have to but whatever you do, avoid late payments! It's just not worth it! And think of all the late fees, it's hard earned money down the drain, give away your money to charity, not banking institutions!!!!

Next rule, check often, check closely. Order copies of your credit report and go over it with a fine tooth comb. Check for errors and unusual or unauthorized activity and take care of them ASAP!

Curb debts, don't max out or keep high balances. It's a huge waste to pay interest month to month on high balances and it puts up a red flag to potential creditors AND it lowers your fico score. Ideally, balances on accounts should be 30% of the total limit or LESS or even better, pay everything in full every month.

Stop applying for credit! Don't apply for every credit offer that comes your way because this lowers your fico score and ultimately hurts you in the end. Once you have a sufficient amount of open accounts in good standing only apply for offers that are really necessary or have not just good but GREAT deals.

Patience. Waiting SUCKS but it's necessary for optimizing your credit reports. A long history of accounts in good standing are indispensable on your credit report. Like fine wine the older the accounts, the better! It's important to always think twice about closing your oldest account because it may make your credit history appear shorter than it actually is.