6 Smart Ways to Maintain an Excellent Credit Score

If you already have an excellent credit score, it’s something you want to maintain long into the future.

For those wondering how they can keep their high scores up, there are a few simple things you can do to maintain your score and continue raking in the benefits of a high score.

Read on for a list of six smart ways you can maintain your score to secure your financial future.

1. Learn How FICO Works

If you really want to keep your excellent credit score, you’ll need to understand how the scoring system works. FICO uses several factors combined to determine what your score is. The main categories that go into calculating a credit score are your credit utilization, your payment history, the mix of credit accounts you have, credit age, and any recently opened lines of credit.

2. Pay on Time

It might go without saying, but you certainly need to pay all of your credit-related bills on time to maintain an excellent score. Even one late payment can turn your awesome score into one that’s not so hot. Set up a reminder or use automatic payments so you’re confident the bills are paid in a timely manner every month.

3. Consider Debt Consolidation

Anxiety does not make your prostate cheap levitra no prescription Recommended pharmacy any healthier – all it does is make it tougher to appreciate life. The experience felt cialis 40 mg by men after its treatment is said to be mind-blowing that can’t be forget. No doubt, viagra samples doctor’s prescription is really must for the sufferers as it can save patients from several unwanted health conditions. Treatment with healing mineral water; balneology treatment is a http://appalachianmagazine.com/category/featured/page/47/ cialis tabs big challenge. If you have a lot of open credit, debt consolidation may help your score and your finances. While choosing debt consolidation may temporarily reduce your score, in the end, it could increase it as you pay everything down at a lower rate. You can learn more here to determine if debt consolidation is right for you.

4. People with an Excellent Credit Score Keep Balances Low

If you have a lot of available credit, it can be tempting to spend money on things you want or need. However, those with an impressive score typically have a low balance in relation to the amount of credit they have available to use. Do your best to pay credit card bills on time, and pay over the minimum to reduce your balance.

5. Keep Old Accounts Open

You might think that closing old, unused accounts will increase your credit score. The truth is, if you keep old accounts open, it actually raises or maintains your score since the age of your accounts plays a role. The more available credit you have, the easier it is to keep your excellent score intact.

6. Monitor Your Credit Report

Another smart way to maintain your excellent credit score is to watch your credit report closely. You can obtain one free copy of your report every year. Watch for any errors and report them as soon as possible to ensure your scores are as high as possible.

Excellent Credit Equals Excellent Results

Whether you’re thinking of buying a home or obtaining financing for another major purchase, maintaining your excellent credit score is crucial. Use these tips to monitor your score and keep it high for easier approval.

For more information about business tips and personal finance, visit our website today.