CREDIT & DEBT
PERSONAL FINANCE
The Right Way to Be
About Good Credit
Yes, good behavior generally boosts creditworthiness. But when you're trying to qualify for low-cost credit, there's a right way and a wrong way to be good. The key is understanding the counterintuitive rules of credit scoring: less isn't always more, paying in full may not work and shifting debt may cost you.
FOLLOW THESE FOUR TIPS
Less isn't always more: Too few credit cards can hurt your credit score
Paying in full may not work: Your score reflects what you owe when your card issuer sends its report to the credit bureaus, and timing is everything.
Shifting debt may cost you: What seems like a smart strategy might lower your score
Nearly perfect doesn't cut it: Your score will drop if your payment is 30 days past due, no matter how perfect your record had been until then.
More on Credit & Debt
· Free Credit Reports For All
· Silence the Sales Pitches
· 10 Friendly Credit Cards
· 5 Alarming Credit Card Tricks
Debt Management Tools & Calculators
Sometimes, the first step to solid debt management is a plan. Get organized with these debt management calculators and tools.
- Debt Management Planner
- Impact of Interest Rate
- Lower Rate Worth Fee?
- Debt Consolidation
- Consolidate My Cards?
- Debt Management: How to Pay Off My Balance
- See All Calculators
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