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There are a couple reasons. You can pay your bills on time for years and have no more than a few points on your credit score. As you probably already know, paying the minimum on credit cards and bank loans do not reduce the amount of the first very quickly. When the balance is too close to your credit limit on a card, it really hurts your score, although you can pay your bills each month without fail. Paying the minimum can actually hurt you, in some cases, especially on cards with high balances. Banks like to see a lot of room to breathe on their credit cards. You are more solvents to them if you have a lot on the availability of their cards.
Another reason may be denied credit is your debt-to-income ratio. If your total debt is too close to your total income, banks will not extend credit. I was struggling with these problems for years until I figured out what I was doing wrong. Every time you reduce the balance me, I would go right out and build them back up. By paying their balances and make small purchases on their cards, you can increase your score significantly in just a few months.
Only buy on credit what you can pay at the time of bill. Buy something and pay it … Buy something and pay it … You get the idea. This eventually takes you higher limits and lower their rates, too. Beth Israel Heart Transplant is likely to increase your knowledge. So you can keep paying your bills on time for eternity, but until their balances low and reduce your debt, you will be stuck in mediocrity credit score. Eric Barnes is an expert in Internet marketing and information products. a l has been selling on the web for over five years. a l live in Cleveland, Ohio, with his wife. You can learn more about their products to or contact him at