How can you ensure healthy credit score?
Spend
Yes! You need to spend in order for you to have any kind of credit rating showing up on your report. Credit rating companies love customers who are consistent in their spending habits. This does not mean you have to become a money launderer. Ensure that you pay with your credit card for items that you are purchasing, especially the big ticket items.
Apply for more credit cards
Do not get me wrong. I am not intending to suck your bank balance dry. Instead, I am suggesting that you apply for credit cards for the sake of applying in order to show that you are a valuable customer. You just need to prioritize on which card you use upon making a purchase. If the credit card comes with a supplementary card free, be sure to grab it as well.
Pay your balances
Once your bill is in, ensure that you make full or partial payment as per your convenience. If you are looking to cut down on your bills, it is best to pay in full to reduce your interest and finance charges imposed on previous full balance that you do not pay off. It is best to not keep to minimum but aim for a complete settlement as per the bill. Not only will it improve your spending habit, it will also increase your credit rating.
Stop asking for lower interest rate
If you are an avid caller to your credit card company requesting for lower credit card interest rate, be sure to stop as you are asking for more trouble than favor. You could end up irking the officer or the credit card company to check your files in order to know more about you. If your credit rating with the credit card company itself is not in good standing, you may end up losing your credit card itself.
Maintaining a good credit rating is essential if you plan to have any kind of relationship with a bank. In fact even some companies check on credit scores before hiring employees.
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