Tips On Credit Scores, Credit Management & Credit Cards

1. Bad credit can happen to anybody How To Get Your Free Credit Report and for a variety of reasons. Take stock of your credit cards, including the interest rates and minimum payments. Some credit scoring models may consider only the average age of all your accounts, while others may also factor in the age of your oldest open account. Credit cards, when used responsibly, are often the best way for a young person to begin establishing credit. According to PayScale's 2012-2013 Tipping Study , tips can account for as much as 60% of a service worker's income. Usually, the person who calls you is being paid $9 to $11 an hour to make calls and try to collect money and close accounts. A longer credit history can help your credit score, and help you appear more responsible. Therefore, be sure that the primary account holder has a history of making their payments on time, and that they don't have a high credit card utilization rate. So by diligently focusing and committing to reducing the amount you owe and paying bills on time, you will dramatically improve your score. Making sure your credit report is both accurate and up to date is one of the best steps that you can take in boosting your credit score. If you have applied for too many new accounts recently, that may negatively affect your score. Many major banks offer secured credit cards. If you can't do that, pay as much over your required minimum payment as possible to begin whittling away the debt. But that's a very risky prospect and if you don't make that payment, you'll be forced to pay to extend the loan. Make an effort to catch up on late payments and pay down your balances to see the fastest improvement in your scores.