![]() Don’t close a credit card account: If you are not using a certain credit card, it is best to stop using it instead of closing the account.However, it is important not to spend this amount so that you maintain a lower credit utilization rate. If your account is in good standing, you should be granted an increase in your credit limit. Increase your credit line: If you have credit card accounts, call and inquire about a credit increase.Pay your bills on time: Six months of on-time payments are required to see a noticeable difference in your score. ![]() VantageScore is a consumer credit rating product developed by the Equifax, Experian, and TransUnion credit bureaus as an alternative to the FICO Score. Set yourself a reminder to check them all every six months or every year to make sure there have been no charges on them and that nothing unusual has happened. Make it a point to regularly check that no fraudulent activity occurs on them, since you aren’t going to be using them. In the section where you can have alerts, make sure you have your email address or phone in there. Also, make sure that you don’t have autopay set up on any of them. For each, ensure that there is no balance and that your address, email address, and other contact info are correct. Go online to access and check each of your cards. Keep them in a safe place in separate, labeled envelopes. Instead of closing accounts, gather up the cards you don’t use. ![]() ![]() If you have many credit cards and want to close some that you do not use, closing credit cards can indeed lower your score. Wilson David Investment Advisors, Aiken, S.C. ![]()
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