“As a former credit counselor, I know that most individuals have a misguided perception of credit and I am here to debunk some common credit myths and provide you with some free information about how to improve your score. Since it is an absolute fact that a higher credit score means better interest rates for car loans, mortgages, and other debts, these tips can translate into a few extra dollars in your wallet each month.
1) Approximately 35% of your credit score is based on past debts that are over 30 days late. This means if for some reason you are going to be late on a payment, do not let it slip past 30 days late”…. <More>
Stumble It!
1 Comment
February 26, 2007 at 6:38 pm
Closing credit cards will not help but hurts your credit in more ways than one. I would recommend paying it off slowly and keeping the balances low. I learned the hard way .. I dedicated years in researching how the credit scoring system actually works.