Getting a perfect credit score is something that could potentially save you a lot of money on interest charges. If you want to go after a perfect credit score, there are a number of steps that you will need to complete. Here are some tips to getting a perfect credit score.
1. Don't Be Afraid of Credit
Many people mistakenly believe that they should not utilize credit if they want to have a good credit score. In fact, the opposite is true. You are going to have to use some type of credit if you want to boost your credit score. This is one of those things that you have to use or you are going to lose.
2. Use it Cautiously
Although you need to use your credit, you need to use it sparingly. Be careful with how you use your credit and do not let your debt get out of control. One of the big problems that people run into is accumulating large credit card balances. If you want to get a perfect credit score, you are going to need to make small regular purchases with your credit accounts. Make a small purchase and then pay off your balance each month. You do not ever want to exceed more than 30 percent of your credit limit. If you get in the habit of maxing out your credit card, lenders are going to think that you do not know how to handle your money very well.
3. Do Not Apply Often
You want to try to have a nice mix of credit. Having different types of credit such as a mortgage, auto loan, and a credit card can be helpful. However, you do not want to apply for credit too often. You want to limit the amount of time that you apply for credit cards and other types of credit accounts. Those that have the highest credit scores do not regularly apply for credit. You do not want to carry around five or six credit cards at one-time. Get one or two of the best credit cards and use them for your transactions.
4. Never Miss a Payment
If you want to get a perfect credit score, you are going to have to have a perfect payment history. Payment history is one of the most important factors that credit bureaus look at when determining your credit score. You need to make your payments for every type of account that you have. If you miss a payment, your creditor is going to reported to the credit bureaus and it will negatively impact your credit score.
5. Credit Monitoring
Another step that you should take if you want perfect credit is to employ the services of a credit monitoring company. There are many different credit monitoring services out there that can watch your credit report for you. They will alert you if any credit accounts are opened in your name or if identity theft is suspected.
1. Don't Be Afraid of Credit
Many people mistakenly believe that they should not utilize credit if they want to have a good credit score. In fact, the opposite is true. You are going to have to use some type of credit if you want to boost your credit score. This is one of those things that you have to use or you are going to lose.
2. Use it Cautiously
Although you need to use your credit, you need to use it sparingly. Be careful with how you use your credit and do not let your debt get out of control. One of the big problems that people run into is accumulating large credit card balances. If you want to get a perfect credit score, you are going to need to make small regular purchases with your credit accounts. Make a small purchase and then pay off your balance each month. You do not ever want to exceed more than 30 percent of your credit limit. If you get in the habit of maxing out your credit card, lenders are going to think that you do not know how to handle your money very well.
3. Do Not Apply Often
You want to try to have a nice mix of credit. Having different types of credit such as a mortgage, auto loan, and a credit card can be helpful. However, you do not want to apply for credit too often. You want to limit the amount of time that you apply for credit cards and other types of credit accounts. Those that have the highest credit scores do not regularly apply for credit. You do not want to carry around five or six credit cards at one-time. Get one or two of the best credit cards and use them for your transactions.
4. Never Miss a Payment
If you want to get a perfect credit score, you are going to have to have a perfect payment history. Payment history is one of the most important factors that credit bureaus look at when determining your credit score. You need to make your payments for every type of account that you have. If you miss a payment, your creditor is going to reported to the credit bureaus and it will negatively impact your credit score.
5. Credit Monitoring
Another step that you should take if you want perfect credit is to employ the services of a credit monitoring company. There are many different credit monitoring services out there that can watch your credit report for you. They will alert you if any credit accounts are opened in your name or if identity theft is suspected.
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