the facts are as we know, always pay bills on time and avoid using all your credit limit on your credit card and you never want to cancel them because as i what i have read the longer you have your credit card the better.
if you have poor credit, you may want to apply a secured credit card which is you would put money into it before your can spend.
you can also build credit by other ways like with your apartments and stuff as long as you pay them on time.
From FreeStarCredit.com
Explanation
There are many factors that can influence your credit score. The most important factors are listed below, in their order of importance. Remember, these factors vary in how strongly they impact your credit score. Additional details are provided for some factors to help you better understand how they relate to your credit accounts.Here are the top factors affecting your score:
Credit historyNot enough debt experience - In general, a longer credit history will have a positive impact on your credit score; but, there is little you can do to hurry the process. The length of your credit history has a greater impact if there is minimal other information in your file. Showing activity on different types of accounts can give potential lenders a broader base on which to base your credit history. Keeping older accounts open � even if you aren't using them � may extend your credit history overall as well as for specific types of credit. Most important is to show responsibility with the accounts you have while waiting for time to be on your side.
Credit accountsToo many accounts close to limit - A major part of your score is determined by analyzing how much you owe, particularly in proportion to your available credit. When a high percentage of your available credit has been used, it can raise concerns that you are overextending yourself and are more likely to make late payments or none at all. Keep in mind that even if you pay your bills in full each month, your credit report will usually show the balance from your last statement. Keeping low balances (30% or less of available credit) can have a positive impact on your credit score.
Account balances
Total balance of revolving accounts is too high - A major part of your score is determined by analyzing how much you owe, particularly in proportion to your available credit. When a high percentage of your available credit has been used, it can raise concerns that you are overextending yourself and are more likely to make late payments or none at all. In addition to considering the amount owed on all accounts, the amount you owe on specific types of accounts, such as revolving accounts, is also a factor. Keep in mind that even if you pay your bills in full each month, your credit report will usually show the balance from your last statement. Keeping low balances (30% or less of available credit) can have a positive impact on your credit score.
Credit historyLength of time since most recent bankcard acct has been established too short - In general, a longer credit history will have a positive impact on your credit score; but, there is little you can do to hurry the process. The length of your credit history has a greater impact if there is minimal other information in your file. Keeping older accounts open � even if you aren't using them � may extend your credit history overall as well as for specific types of credit. Most important is to show responsibility with the accounts you have while waiting for time to be on your side.
Posts
