Your Credit Score

Your credit score is very important, as you probably know. What many people do not know is that having credit, properly managed, is the greatest positive impact on your report. For example, after college, and working full time, I disciplined myself to pay off and consolidate my small department store credit cards, as they had a higher rate of interest. I decided to maintain one card, with a low rate, for emergencies, etc. Having one card with a large balance (close to its maximum) really hurt my credit score. Instead I should have maintained multiple cards with very low balances.
It should never appear as though you have exhausted all possible funds, this is the greatest negative impact on your credit. Additionally, the more recent a derogatory tradeline (i.e. late payment), the worse it is for your credit report. Lastly, do not be afraid to dispute things. We very often see errors in credit reporting with similar names or social security numbers transposed. Keep an eye on your report and don't be afraid to ask for help. We are happy to assist clients clean up their credit, in the end it saves us all money!