| If your credit score is in the 730 range, you fall in the | | | | short period of time can ding your FICO score as well. |
| upper echelon of consumers in the U.S. with excellent | | | | For example, applying for 4 credit cards over the |
| credit. The average credit score or FICO score is | | | | course of a 3 month period will raise some red flags. |
| around 690. And, with the economy slowly going | | | | However, multiple inquiries against your credit file in a |
| downhill, more and more people are finding their credit | | | | thirty day period for an auto loan or a mortgage will |
| scores drifting into dangerous territory - 550 or less. | | | | not cause your credit score to be lowered. In cases |
| If your credit score is low, it is in your best financial | | | | like this the credit companies realize that the inquiries all |
| interest to try your hardest to bring it up. Doing so will | | | | relate to the possibility of opening up only one credit |
| save you thousands of dollars and more in the long | | | | line and therefore, internally, they will treat these |
| run. Bringing your credit score up is not too hard to do, | | | | collection of inquiries as only one. |
| if you know the factors that determine the score. Here | | | | Don't go over you limit on your credit cards. This is |
| are some tips to help you. | | | | another red flag that will cause your FICO score to be |
| Limit the number of credit accounts you open up. | | | | lowered. Try to pay off your debts as quickly as you |
| Credit companies are always sending offers through | | | | can and try to avoid rolling over balances from month |
| the mail, many of them quite tempting. As a result | | | | to month. |
| many people find themselves signing up for a new | | | | New credit accounts in general tend to lower your |
| card offering cash back rebates, frequent flier miles, or | | | | score a bit. Over time, however, as these accounts |
| other incentives. Beyond a certain threshold, however, | | | | become aged, assuming that the accounts have been |
| each additional card or credit line you open up will | | | | handled responsibly, your score will improve. All of |
| cause your credit score to take a dip. If you have a lot | | | | these tips can go a long way towards helping you to |
| of cards and want to get your credit score up, start to | | | | build a positive credit history and getting your FICO |
| cancel some of the cards that you really don't need. | | | | score into a healthy range. |
| Applying for too many credit accounts in a relatively | | | | |