'Tis the Season for Better Credit Comments

  • By MP Dunleavey
  • December 01, 2009

gift_redboxIt seems like the worst time of year to clean up your credit. But the holidays offer surprising opportunities to polish your record, boost your score and become more credit-savvy for 2010.

  • Say NO to store cards. The lure of 15% off at the register is tempting—and terrible for your credit. Every credit inquiry dings your score. That's not what you want for Christmas.
  • Spend more cash. A big part of your score is how much credit you have available. If you carry a balance, it should be less than 25-30% of your available credit. Spending cash this season will help to keep your debt ratio down—and nudge your score up.
  • Clean house for the New Year. It's almost 2010, have you looked at your credit reports yet? They're free at the official website, The majority of reports contain errors, so a quick clean-up (you can submit disputes online) is the fastest way to better credit, and a financially happy and healthy New Year.

Tagged in: Credit

© Copyright DailyWorth 2014