Step #3 – Improve your credit score by avoiding this mistake

Apr

2009

Step #3 – Improve your credit score by avoiding this mistake

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Credit Score by admin

The fourth step is this: do not open a new credit account if you don’t need to. Remember, 10% of your score is made up of “New Credit”.

So the next time the cashier asks you, “Would you like to save 10% on your purchase today by opening an account with us?” , you can politely decline her offer.

When a creditor is reviewing a credit application and sees that this person applied for credit 5 times during the last 60 days, they will see that as a red flag.

In order to improve your credit score fast, avoid applying for new credit unless you need to. Especially, unnecessary credit cards like department store cards.