Boost your credit by using your credit cards:
Your friends may tell you, “When you’re rebuilding your credit, tear up your credit cards.” If you’re struggling to manage your spending habits this is sound advice, but if you’re just trying to raise your credit score cutting up your credit cards can be more harmful than helpful. For one thing, the length of your credit history is a factor in determining your credit. Unfortunately there is not much you can do to quickly boost the age of your credit history. Your best course of action is to not close old, inactive credit accounts. It’s a common misconception that this will improve your credit, when, in fact, it will reduce the age of your credit and could harm your credit health. Many credit card companies offer rewards for every dollar you spend too!
Your friends may tell you, “When you’re rebuilding your credit, tear up your credit cards.” If you’re struggling to manage your spending habits this is sound advice, but if you’re just trying to raise your credit score cutting up your credit cards can be more harmful than helpful. For one thing, the length of your credit history is a factor in determining your credit. Unfortunately there is not much you can do to quickly boost the age of your credit history. Your best course of action is to not close old, inactive credit accounts. It’s a common misconception that this will improve your credit, when, in fact, it will reduce the age of your credit and could harm your credit health. Many credit card companies offer rewards for every dollar you spend too!