Credit score is a figure where lenders such as bank and credit companies would base their judgment. This score would tell if a person if he or she is worthy to be given credit. So it is very important that you are able to keep this score good at all times. But the question is how would you keep a good score? What are the things you should avoid to prevent damaging your score? This article aims to answer such questions so read along and you might learn a lot of things.

First thing you have to do is be punctual at all times. Pay your bills on time, at all costs. Paying late, collections, and bankruptcies are the things that deal the greatest damage to your credit score. To lenders, there is nothing sweeter than paying your bills on time. Being punctual could greatly help in building and maintaining a good score.

You should also check your credit records to see if there are inaccurate or false information. If in case there are, contact your creditor immediately to correct the errors. Do not let your score be damaged by such errors in your record.

You should resolve negative open items. Even though your past creditors, bills, or loans do not actively exert effort to collect payment from you, take the initiative to pay your debts to them. Unresolved accounts could still damage your score.

Next thing you should do is to keep track of your debt. It is advisable to keep your balances below 50% of your limit.

If you currently have a credit score, then give time to make it better. Time is one of the significant factors that affect your credit score. If you let time be on your side, then you have no other ending than improving your credit score. At the same time, you could also try to study and adjust your credit limits. You should be able to balance your account but the same time, be able to use your extra money on the line. Also, you could open many credit card accounts and maintain a good record with all of them. This could also help improve your credit score.

There are myths out there that if you try to follow, it could damage your score. For example, some would say that if you check your credit, your score will drop. This is not true. Checking your credit once in a while would not damage your score. Instead, it would help you maintain a good score because you are able to see if there is inaccurate information on your record. Some would also say that closing your old accounts could improve your score. This is also not true. Closing your older accounts could lower your score by making your record look shorter. Another thing, being a co-signer does not affect your record. This is also not true. If you co-sign for a friend’s loan, and your friend fails to pay it, then it would also damage your record. Lastly, never lose patience. You must be able to give yourself time to let your score improve.