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Japher
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Ook! Ook! Ack! Ack! Ack!
Jun 2002
time: 05:27
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Things to help your credit:
1. Don't pay off your credit cards, manage your debt/credit ration... or how much you owe vs. who much you have left. Carry about 10-15% for 60 days and your credit will improve. Your FICO number will improve because of this. I generally leave 2,000 on my cards... Yeah I have to pay to do this, but my FICO is in the 760s.
2. Cut up, but don't cancle credit cards you don't use. Closing an account ruins that ratio by eliminating available credit.
3. Don't run your credit more than 4 times a year. Counting for when renters do it, applications for other cards, background checks, etc... Every time your credit is checked your FICO goes down
4. Enjoy "revolving debt"... this is like managing your debt/credit ratio however this is more of a pump and dump scheme. If you have the cash to pay for something (like a big purchase), don't. Use your credit card. Run it up, and pay it off. Also good are those 60 day, 1 year, same as cash deals. However, don't run your credit while the debt is up as you will have a lower FICO score. Wait 60 days after paying it off to have a credit check performed.
That's all.
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03-02-2005 00:54
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