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How to improve credit score?

slickness123 1,679 1,322 August 22, 2015 at 08:02 AM
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I have a couple cards that I haven't charged anything to in the past few years. Is that lowering my score? If I charge $0.01 to them, say once a month, will that improve my credit score by having a very low ratio rather than a zero ratio?

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#2
check the attached image for credit score impact factors.
i got this image from creditkarma.com

go there & register & see what factors are impacting your score most.
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#3
Simply having a card open doesn't do much. you actually have to use it and show good payment patterns. Keep your debt ratio as low as possible as well.

don't be scared to use them. Use them and pay them off every month.

People always seem to think credit is some kind difficult equation.....it's really not.....don't max out cards....and pay them on time...... Wala good credit scores!
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#4
although it's not advisable to max out your CL, I max out several of my CCs but I pay all of them in full each month so I don't pay any fees/interest. My FICO from the 3 agencies are all in excellent range.

OP, you have to put some charges on your card and if possible, let them post in your account and soon after post date, pay them off. credit utilization of zero on a monthly basis will not improve your FICO but if you can keep it within 3 to 5 percent, you'll see an improvement in your score.
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#5
have you checked your 3 free credit reports


https://www.annualcreditreport.co...age.action
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#6
Quote from slickness123 View Post :
I have a couple cards that I haven't charged anything to in the past few years. Is that lowering my score?
It depends on what the rest of your credit mix looks like as well as a few other factors. How many other cards do you have from major issuers (VISA, American Express, etc.)? What are the ages of all of your cards, including the two you're asking about? What are the credit limits on those two cards and what are the credit limits of the rest of your cards? Are the cards you're asking about store cards or cards from major issuers? Are the cards you're asking about being reported to your credit reports now?

As you can see, there is no straight up and down answer, especially when it comes to the degree to which inactivity on those two cards might be negatively affecting your score.

Quote from slickness123 View Post :
If I charge $0.01 to them, say once a month, will that improve my credit score by having a very low ratio rather than a zero ratio?
Be more concerned with those cards being closed due to inactivity or those cards ceasing to be considered in your credit mix due to inactivity. Both will hurt your utilization ratios. To guard against this, simply use each of them once every six months or so on even the smallest of purchases to keep them active in your credit mix.
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Last edited by Brian1 August 22, 2015 at 10:41 PM
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