Hi i wrote my own little guide on improving credit scores. I hope you can give me some feedback and what i should add to it . It is very important to have a good credit rating. If you want to rent an apartment, find employment, apply for a credit card, be approved for a loan or mortgage or even get a private student loan you need a good credit rating. Improving your credit score is vital. Here are some tips to help you in your quest to become credit worthy. Credit card companies rate you partially according to your balance, usage, and payment history. Spend as much as you want on a credit card, but pay the bill (PIF) before you even get the actual bill. Keep your charges to around 1% to 9% of your credit limit. For example, a $5000 credit line should only report a balance of $50 to $450. If you only carry one credit card, keep the payments current by PIF. If you carry more then one credit card . Pay off the other cards completely before the end of the billing cycle.. and keep one card with a balance of $50 to $450 As a fun note, using an AMEX Platinum, gold (charge cards) do not count against you in the credit rating system. The age of your accounts is very important. Lenders will frown on you if you have a record of regularly opening and closing credit cards. Keep credit cards open as long as you can. It is wise, however to change from a card with a yearly fee to a non-yearly fee card or you can also ask for a refund on the fees. Look into AMEX cards. If you have a card that is 10 years old and get a different type of AMEX account, AMEX will backdate all cards. Backdating helps increase your credit rating as the new card will receive the age of the old amex cards Keeping cards for a long time also increases your credit score. Having a credit card from one major bank often gives you a heads-up when applying for a card from another bank. Do be aware, however, that you still need to keep payments current on all cards. A line of credit on the card affects your credit rating. Some cards, like AMEX, allow you to apply for 3x your credit line (with a soft pull). An increase in credit limits will improve your rating. If you are continually applying for new credit cards, your credit will suffer. Credit does rebound after several months, but it causes lenders to think twice before lending you money. Too many inquiries will hurt your chances for instant approvals. Only worry about this when you have over 8 hard inquiries. Do note that if you miss payments or are continually late you will hurt your credit rating. Do what you can to pay back your card before the bill arrives at your doorstep. Check your credit rating, at least once a year, to find any mistakes. Using these tips will keep your credit rating in a 720+ range. Only apply for credit cards that have good point bonuses if you have a good credit score. Being rejected for a credit card jeopardizes your chances of receiving additional credit.