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Maintaining a Good Credit Score

Updated on July 21, 2015
It is a privilege to keep a good credit record.  Using a credit card is one example in establishing a pleasing credit rating history.
It is a privilege to keep a good credit record. Using a credit card is one example in establishing a pleasing credit rating history.

A good credit score means you indeed have a history of good credit. You can use it to rent homes, apply for vehicle loans, sign up for a credit card or two and so on. You’ll be seen as a person who is trustworthy when it comes to managing finance on time and the right way.

To keep a good credit score, the common thing to do is paying your bills on time. Of course, a credit history doesn’t always mean making payments. You must be aware of your credit limit so you won’t spend too much. Even if you haven’t had a good credit history, you still have a chance to improve that with these tips.

Pay your bills on time

Whatever you use for credit — loans included — needs to be paid on time. The best way to make sure your payments are right on schedule is to pay at least two weeks in advance. Try to avoid making last-minute payments, because transactions sometimes delay processing, and that may involve a late fee. Also, don’t always rely on minimum payments. They only increase interest rates, and it’ll mean paying even more than what’s really owed.

Don't forget to pay your bills on time to establish a good credit history!
Don't forget to pay your bills on time to establish a good credit history!

Avoid overspending

Credit cards are fun to use, but not when you’re overspending and getting too close to your credit limit. Remember that credit agencies will look at how much you spend with your credit cards. You certainly don’t want to go over the limit, which can really put a dent into your credit history. That goes for writing checks, too; avoid bouncing them. So, if you use your credit card for shopping, consider spending a small fraction of your limit.

If you rely on credit cards while shopping, be careful not to spend more than what you need.
If you rely on credit cards while shopping, be careful not to spend more than what you need.

Only apply for what you need

There are plenty of different credit cards to choose from. There are cards that can be used for grocery shopping, purchasing gasoline, clothing and more. So if you decide you want to apply for a credit card, sign up for what you need. For example, if you have trouble paying high prices for gasoline, you can check with your gas station to apply for a credit card that can be only used there. You don’t want to apply for credit cards that you doubt you’ll use, because credit agencies will see how frequently you use them.

Specific stores such as this supermarket often have credit cards designed primarily for shopping at those places.
Specific stores such as this supermarket often have credit cards designed primarily for shopping at those places.

Earn income

You need to have a well-paying job to pay your bills without stress, especially in the long term. As you work, try to set aside your earnings so you can save them, preferably in a bank, just in case something happens unexpectedly. You won’t risk getting broke, and you’ll always have enough savings for your bills.

A good credit score gives you many opportunities. You can use it for renting homes, leasing vehicles, borrowing money, and more. Establishing a good credit history is important for the business world. It values a person who is trustworthy and knows the aspects of financing.

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