Sure, we know that you need to pay your accounts on-time and avoid racking up debt in order for your credit score to be on the rise, but what if it seems that we are at our limit of how far our credit can get, and it’s not even at the top of the 800+ range score.  By thinking outside of the box, a bit, you can continue to see your score rise and you’ll be able to take advantage of the best interest rates on the market.

Leave Credit Card Accounts Open

Paying debt and finally paying off debt is great, but once it’s paid off you might think you need to close the account.  This will actually hurt your score by removing this available credit from your profile, so it is actually best to leave the account open.  If you are trying to rid yourself of using the account going forward, just simply cut up the card, but leave the account open.  Showing a lender that you have plenty of available credit but you do not use it, can show that you are a responsible borrower.

Stop Using Debt Card for Monthly Bills

If you are using a debit card, you are definitely on point for knowing how much is in your account each month and are probably on a budget of what you need/have to spend each month, but although you are being financially responsible, you are actually doing little to help your credit.  If you can use a credit card for monthly purchases instead of debit, and pay off the full balance each month, by successfully charging and paying off, it can actually build your credit further and increase score in the meantime.  Just avoid charging too much and carrying over a balance to the next month.

Learn for Past Mistakes

Many have fallen into debt at some point in their life, whether it was while you were in college and had little money, had a job-loss and had trouble paying bills, or even having consistent income but lived outside your means.  I know myself I had trouble keeping myself on a spending leash when I was younger, and since it took years for me to get out of the hole I was in, by learning from my previous mistakes are enough not to allow myself to get in that sort of financial trouble again, and that in itself can help from avoiding taking a toll on your credit report.

Avoid Being a Co-Signer

You have to really trust a person to be a co-signer, but trust only goes so far when it comes to actually making payments and hurting you by vouching for this person.  By co-signing for a loan, you are just as financially responsible as the one making payments, so to save yourself the trouble and worry about on-time payments made or increased debt, I would avoid being a co-signer, unless it is in dire stress to be able to help a close friend or family member.