Don't max out your credit cards

There was a time when I had a handful of credit cards and would make my payments every single month on time but it seemed as if my credit score was not going up much. I wondered why and what more could I do to make my credit score go up faster. Then I discovered that maxing out your credit cards is not the way to do it. You see, I had 5 credit cards with my combined credit limit at about $4000.00. My combined balance on all of these stood at $3,500 to $3,900.00 for about 5 years, I never paid it down. Once I discovered this I started paying my debt off and would knock off about $400.00 per month and after a years time I still had some balances but only owed $770.00 out of my $5000.00 combined limit. My credit score drastically shot up over 100 points in that year and I also got automatic credit card limit increases from 3 of the companies.

Take it from me - Don't max out your credit cards! Try to keep your combined balance to about 30% of your total combined credit limits.