Securing and Maintaining a High Credit Score

Getting a high credit score on your credit card has advantages. You will be offered exclusive benefits. It would be easier for you to secure a loan and you will be given a lower interest rate. Getting a high score and keeping it is not very easy. Most people fall into debt traps that makes them struggle financially and thereby affect their credit standing.

Here are some ways that can help you keep your credit score at a favorable level, at least:

  • ·         Awareness on the factors that affect your score – Know your credit card activities well so you will have knowledge of what affects your score.  There are five elements to take note of – how much you owe, credit mix, payment history, recent credit and credit age. Not all activities affect your score. If you pay your utilities via your credit card this would not have a say on your credit score; meaning, it would neither affect nor help your standing. Know which activities matter and be conscious of it.
  • ·         Try to keep a low balance – Most credit card holders develop the bad habit of treating it as a loan that they can pay “someday”. These are the ones who do not pay their credit card statement in full thereby passing off the balance to the next month and incur additional charges. This habit would be detrimental to your credit standing even if you settle your obligations in full at the next billing statement. Try to settle in full your monthly credit card statements or, at a minimum, keep your balance within 30% of your assigned credit limit.


  • ·         Pay bills without delay – Aside from settling your monthly billing statement in full, it is of equal importance that your pay them without delay if you want to maintain a high credit score. It is true that some bills don’t get recounted to the credit bureau but delayed payments may found their way into your credit report.


  • ·         Be smart in managing your debts – Your credit card history is not the only one affecting your credit record. Your other financial activities are reported to the credit bureau and these affect your credit standing. Included here are your credit lines and loan balances. Be responsible in paying your loans. If you have unsettled debts, this will be bad for your credit standing. If your creditors see that you cannot manage your personal finances, you will lose credit points. It is therefore wise to be prudent and responsible not just in your credit card use but in all your financial transactions.


Getting a copy of your credit report is highly advised. You may get them from one of the credit bureaus. Look into it to see if there are errors. Watch for the mistakes you commit and avoid further mistakes to ensure a good credit standing.

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