Credit Card Suggestions To Retain Good Credit

Credit Card Suggestions To Retain

Good Credit by: wwww.newhorizon.org

While the new credit card law offers some protection to prevent unexpected interest rate changes, it does not present full protection for credit cardholders.

To keep a good credit standing, cardholders need to know the best techniques and stick by the guidelines.

Pay down your charges â—? Keep in mind that 30% of your FICO score is based upon your credit utilization so the lower your creditto-debt ratio is, the higher your credit score would be. â—? Experts suggest not going above 30% of your allocated credit.

Check your credit card mail ● You can only take advantage of the provision of the new Credit CARD law if you pay attention to updates sent by your issuer. ● It’s necessary to understand that your issuer can continue to increase your current rate as long as you get an advanced 45 days of notice. ● And there is still no cap to the increases.

Ask for a higher credit limit. ● A higher line of credit shields you against over-using or going above your limit so it’s wise to select a credit card with a reasonable limit. ● If you have an excellent credit standing, call your issuer and ask if they can increase your existing limit or lower your rate.

Don’t let your account go idle ● If you opt to keep a credit card, make sure frequently use it on smaller purchases and pay down your full balance immediately. ● Most issuers charges you inactivity fees on a dormant account, plus annual fees to keep it active.

For more information about credit card tips to maintain GOOD CREDIT SCORE http://www.newhorizon.org/credit-info/8-creditcard-tips-for-2010/

If you are looking for unsecured credit cards http://www.newhorizon.org/Info/unsecured.htm