Tips To Improve A Bad Credit Score

Keep The Same Account Open

Keeping the same accounts for a long time helps boost your credit score. This is because one of the major components of your credit score is the length of time you’ve had open accounts. Take a credit card for instance. Everyone will have a first credit card, even if it’s one with a low credit limit. Keeping this card active, even if you’re not using it anymore, still helps build your credit. Closing accounts like this will remove the credit history it built for you. In addition to this, it lessens your available credit limit, which will boost your debt utilization. This means it makes the debt you do have seem larger! Thus, keep cards and accounts open as long as possible.