Keep and Maintain Good Credit With These Tips

PennyGem’s Elizabeth Keatinge tells us about habits people with good credit practice.

Transcript

00:00Having a good credit score is imperative when you want to borrow money.

00:08What are some things you can do to make your score as strong as possible?

00:11FICO scores range from 300 to 850.

00:14CNBC recommends paying your bills on time and reducing your credit card balances.

00:19Common advice is to keep revolving debt below 30% of your available credit.

00:24Experian tells the publication that payment history and utilization rate

00:27counts for 60 to 70% of a credit score.

00:30Financial expert Becky Hardiman tells PopSugar Money

00:33that those with good credit tend to have available credit that they don't use.

00:37Keep old credit cards open if they don't have fees.

00:40The length of your credit history accounts for 15% of your score.

00:43Use credit monitoring services and don't be afraid to call your card company.

00:47There are real people behind the plastic.

00:49You can ask for forgiveness if you've made one late payment

00:52and you can ask to change your card's payment due date to say right after payday

00:56that makes it easier for you to pay on time.