Any amounts that are past due destroy your credit score. Work at paying down past due balances as soon as possible; then normal payments can be made and will reflect paid on time. Any charge offs or liens within the past 24 months damage your credit score. Work at paying these as quickly as possible.
Make sure your credit card company reports your credit limit to the credit bureau and then keep your card balances at 50 percent of that limit or below. Anything over 70 percent of your limit damages your credit score.
Keep the number of credit cards you have between three and five to better your credit score. If you need to close some, the newest cards are the ones to close.Read more...