I am going to list some simple rules to improve your credit line which I learned by reading some experts and then followed them in my life:
- If you already have credit lines open then don’t overuse them and always pay on time.
- If you can’t pay in full then at least pay minimum required on time always.
- Never utilize more than 30% of your credit limit on each card. If you do so it impacts negatively to your credit score.
- Do not apply for more than 2 credit cards in a year. Every hard credit check impacts negatively.
- Do not close older credit cards, even if it doesn’t give much benefit. Length of credit history matters.
- If you have bad credit or no credit don’t worry. It takes some time but easy to repair or improve your credit score.
- Open a secured card by depositing some money and use that for some period of time wisely (the steps 1–3 above) to improve your credit score in less than a year.
- Apply for Discover Credit card as they usually approve for credit low score as well and use it wisely (the steps 1–3 above) for improving or rebuilding credit score.
- Do not apply for retail store credit cards which are of no much use in building credit but hard hit for credit check may negatively impact.
