Credit score: 5 master tips that can help you retain an excellent score

Credit score: 5 master tips that can help you retain an excellent score. Having an excellent credit score is valuable to customers because they are able to pry favorable loan terms with lenders like lower interest rate, long loan term and high loan amounts among other factors.

At times, a debtor has a regular credit card payment history and continues to be unable to improve their score. There may also be occurrences of debtor score improvement completely unrelated to defaulted payments. Below we share some useful tips, which are no lesser than masterstrokes, even during insolvent credit-repairing times that can help you to improve your credit score:

Enhance your credit score: Follow these masterstrokes

I.. This involves that rather than relying on one form of borrowing, say card, you could keep a good credit mix i.e loan, credit card, overdraft and the likeliness.However, take note that taking out a loan should be the last resort and not the first.

II. Use less of your card: There is another masterstroke of sorts – using less than 30 percent of credit limit in order to keep credit scores. It is worth remembering that the ideal CUR (credit utilisation ratio) is 30 percent.

III. Are there any errors? Another key point to consider is to find any errors in your credit report so that you can get them amended. There may be some errors your unaware of in your credit report, it is very important to get them amended.

IV. . However be sure that this credit card does not have a high processing fee.