4. Keep credit card balances low
Already having credit cards has an effect on your credit rating. Another influence on your rating is the balances you have on any and all of your credit cards. Having more than 35% of your overall balance per credit card actually impacts your credit score negatively, even if you make regular on time payments. This means that for every 1000 you have as a credit limit on a card, you need to make sure you keep the balance under 350 to avoid any nasty impacts on your credit rating. As already alluded to, it’s better to have small amounts of credit on several cards than a large credit on just one, so if your personal circumstances allow it, transfer your balances out between numerous cards to vastly improve your credit rating.
