- Education and Science
America's Way To An Excellent Credit Score!
America's Way To Excellent Credit:
1) Pay all your bills on time (electricity, water, gas, phone, etc.)
2) Pay at least the minimum amount due on your credit card bills
3) Try to pay off your entire credit card balance at once
4) If you have multiple credit cards, use each card for small purchases and pay off the entire balance immediately (Having a credit card and not using it will not build your credit score)
5) Paying off your entire balance at once or paying at least the minimum balance owed decreases your annual percentage rate (APR) which decreases the amount owed to the credit card company
6) Pay off your entire balance at once
7) Always pay off your balances on time
These are seven easy ways to an excellent credit score. As a rule of thumb, if you are falling behind on payments and decide to pay off your credit card and close the account, do not close the account. Closing the credit card account will erase the history of that credit card from your credit report which will lower your credit score.