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The Makings of a Good Credit Score

June 28, 2011 by · Leave a Comment 

A credit score that has just recently been established will begin life at around the 600 mark. To make sure this figure does not drop, any late payments should be avoided at all costs. That 600 number can be increased to something better if you become a stickler for on-time payments and create a money-management pattern that, overall, diminishes the outstanding debt. You will make great inroads into the establishment of a good personal credit history.

Something to remember, when you have a credit card, is that using more than fifty percent of a credit card’s available limit will be taken as an indication of overextension. This is something you want to avoid. Other factors reflected in your credit score are the length of your credit history and the variety of the types of credit you have. Check online to get a free credit score and report. This is a key tool to use when charting the course of your financial future.

But first, to use the credit score and report most effectively, you will need to learn to read it. If you, like most people, began your credit history in college, a worthwhile and attainable goal for you would be to reach a credit score that’s above 700 before you graduate. Take charge of your money matters by keeping close watch on all your money transactions.

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