Additional Suggestions

  • Pay your bills on time. The later you are, the more points you may lose on your credit score.
  • Keep your credit card balances low — ideally less than 25% of your credit limit at any time, even if you pay off your bill in full every month. If you start getting near your credit limit, this can be a flag to potential lenders, suggesting you're maxing out your cards.
  • Promptly pay any traffic or parking tickets or library fines (and keep records of the payments). If the bill ends up going to a collection agency, your credit score could drop by as much as 100 points.

BBB Tip: Automatic Payments

Consider activating an automatic electronic payment schedule with your bank, so you’ll never be late for a payment.

NOTE — Minimum payments may vary, so look for the minimum payment percentage for each of your lines of credit.

It’s always a good idea to have the automatic payment pay much more than the minimum. You’ll owe less in interest and can pay down your balance much faster.