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Want to imrove my credit score

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ryan.wagoner



Joined: 28 May 2008
ryanwagoner's page
Posts: 1



29 Magic Points
Subject: Want to imrove my credit score
 
 Posted on Wed May 28, 2008 11:38 pm  
I have about 9 revolving accounts open with $0 balances in my credit report. what is the best way to close these to improve my credit score? or should I leave them open? I don't need them
 
CMBV22

CMBV22

Joined: 08 May 2008
CMBV22's page
Posts: 378



4034 Magic Points
 
 Posted on Thu May 29, 2008 4:19 am  
leave them open atleast ubtil they expire. The older your positive credit hisory the better your score. I would also suggest that you put something small like, a tank of gas on the card and pay it off at the end of the month. You want active credit,.
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Laura

Laura

Joined: 21 Jun 2007
Laura's page
Posts: 1407



34540 Magic Points
 
 Posted on Thu May 29, 2008 10:44 am  
Hi Ryan
It is true that older is your credit account, the better is your credit score and so it is advisable not to close any old accounts as it will hamper your credit score. You can keep the credit account active by paying your utility bills regularly as CMBV pointed out. You need not worry about your credit rating if you keep your expenditure under control and pay your bills on time.
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Laura.
 
scott

scott

Joined: 28 Jun 2006
scott's page
Posts: 180



4868 Magic Points
 
 Posted on Thu May 29, 2008 1:18 pm  
about 35% of your credit score depends upon your credit history and so credit history constitutes an important part of your credit report. So more old is your credit account, the better it is. Only try to keep these cards active by paying utility bills or any other bills which you would have otherwise paid in cash every month. This will improve your credit score and so you should not close these accounts, rather maintain these accounts efficiently.
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SCOTT

Social security, bank account, and credit card numbers aren't just data. In the wrong hands they can wipe out someone's life savings, wreck their credit and cause financial ruin.
 
creditcardwarehouseonline



Joined: 28 May 2008
creditcardwarehouseonline's page
Posts: 27



1180 Magic Points
 
 Posted on Fri Jun 06, 2008 11:57 pm  
you need to start using some of your credit. 0 balances can actually neg effect your credit score. You should be using about 10% of your total avaiable credit monthly. So use the cards and pay them off in full.
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carol

carol

Joined: 27 Jun 2006
carol's page
Posts: 372



10224 Magic Points
 
 Posted on Sat Jun 07, 2008 7:17 am  
yes, a zero balance does not put you in a good situation. You can start building your credit by paying your utility and other monthly bills through your card and then repaying the debt amount on time. In this way you will have a good credit history and your credit score will increase and your future possibility of getting a debt at affordable rates will be much higher.
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Keep in touch
Carol
 
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