|
1
Your credit report may show a balance even if you pay off your balance in full each month.
The total balance of the pervious month is the amount that will show up on your credit report.
2
Having a small balance without missing a payment is slightly better than having no balance on your
credit card at all. A credit card balance that is paid on time each month indicates that you have managed
credit responsibly.
3
Transferring a balance from one credit card to another does not improve your credit score. Paying
down on your credit card balance will improve your score.
4
Closing unused credit cards can affect your score. Closing unused credit card accounts reduces your
available credit putting you at a higher debt to available credit ratio. This means that you are closer
to maxing out your available credit and a higher credit risk.
5
Opening new credit cards to increase your available credit can actually reduce your CREDIT score. Your
credit score takes into account how much of your total credit line is based on revolving credit such as
credit cards.
|
6
Credit repair agencies that claim to improve your credit score by removing negative but accurate
information on your credit report can do just that much - claim. While these credit repair agencies may be
able, in the short term, improve your score, accurate information on your credit report whether bad or not
will still reappear after it has been verified.
7
Credit repair agencies that claim to improve your credit score by removing negative but accurate
information on your credit report can do just that much - claim. While these credit repair agencies may be
able in the short term improve
|
