How to Boost Your Credit Score 100 Points or More

weebay | Dec 17, 2010 |

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When comes to credit score information on how to get a high credit score, you will find that there's a bag of misinformation and myths circulating out there. There's misinformation about what really hurts your credit score, and what raises your credit score. Plus, the credit card companies are not doing anything to stop or deter those myths. I guess they do that because then people can't rig the credit card scoring system for high scores.

However, today is your lucky day because this article will show you some credit card debt elimination steps you can do to boost or maintain(if you have a high score already) your credit score. These methods are tried and true, because they have been tested, and have produced good results.

So here are some of the biggest factors that will help you boost your credit score:

Use your credit cards on a regualar basis. The whole premise of credit card scoring is to follow credit history. So with that being said If you have never had line of credit, or don't use credit regularly, then credit card companies have no way to determine your credit worthiness, and would probably consider your a good credit risk.
Consistently pay your bills on time every month. This is a biggie, if you had to choose one of the four debt elimination steps to boost your credit score this one would be it. The reason for that is credit card companies count about 33% of a persons credit score to on-time payments.
Never charge more than 30 percent of your credit limit on each card. Credit card companies seem to ding you and lower your credit score if use up more than 30 percent of your credit limit on each card. Ideally you will pay off your balance in full every month so that you don't have to pay interest. However, If you can't do that, just make sure you do not go over that threshold of 30%.

Example:

Credit Limit: 20000
Credit Card Balance: 5000
Debt Ratio= 25% (Below the 30% threshold)

Credit Limit: 10000
Credit Card Balance: 4000
Debt Ratio= 40%(10% above the threshold, and credit score will be negatively affected)
Avoid Credit Card Tempatation- Never apply for a store credit card just before making a purchase at a department store. You know what I'm talking about, When you are about to pay for your stuff, and the clerk says "Would you like to save an extra 15 percent on your purchase today?" - Just resist temptation because they will have you apply for a store credit card every time. Applying for new credit cards even if its a little, hurts your credit score.