Control Credit Card Debt to Raise Your FICO Score
Raising your FICO credit score may not become a big problem for you especially if you control the way you use your credit cards when shopping for new products through retail store like Walmart and Best Buy. The more active you become as a consumer, the higher your chances of using your MasterCard and Visa credit cards for making purchases. Every active consumer who carries more than three credit cards can raise his FICO score by suppressing his monthly debts. Of course, your debt ratio for every month contributes to your overall FICO credit score. Consumers who have low open credit card utilization percentages are likely to raise their FICO scores. The lower the percentage of your credit card debt, the higher your chances of increasing your overall VantageScore or FICO score.
Limit the amount of purchases you make with your credit cards every month and ask for more credits to be added to them if you have been holding them for more than one year. Increasing the limit of an old credit card allows you to raise your FICO credit score if you never miss your monthly payments. It is necessary for every consumer to request for more credits to be added to his Bank of America or Chase credit card if it is in good status. Applying for new low interest rate credit cards via online banking sites every month could help you to raise your FICO score but adding credits to old ones you have held for more than two years does the job more swiftly.
- Paying Off Credit Card Debt Fast and the Benefits Which Can be Gained by You as a Consumer
- Missing Credit Card Payments for Months
- About Your Low Credit Card APR
- Courage to Pay Credit Card Bills
- What Monthly Credit Card Payments Benefit Credit Scores