The best kept credit secrets are the things that you may or may not have heard before. But I bet you that you have never implemented them or used them to your advantage. Credit is a huge part of life in our world today, with nearly all American's relying on it for larger purchases such as houses and cars. Ruining your credit score can happen very easily, so taking all the guaranteed steps to prevent crippling a fruitful financial feature is wise.
What 3 credit secrets could you be taking advantage of to save or vastly improve your credit score …
Inquire with your credit provider about lowering your interest rate and removing or reducing fees on your card. Everyone should do this and it is very effective. More often then not you will end up getting your interest rate reduced if you have been responsible for the card. A simple call saves a lot of money and anyone can do it. A lower interest rate goes a long way down the road when trying to pay off a card (hopefully you make the full payment every month though).
Combine current cards with the same company. So say you have three different citi cards each with a $ 1500 limit, talk to them and see you if can have all the balances transferred to one $ 4500 limit card. It makes no difference to them whether its one card or three. But to you it is a world of difference, having a credit card with a higher limit and works wonders for your credit score as long as it is not abused!
Avoid closing credit cards. Often times there is a very small balance left over that soon grows into a monster sum after sitting for a few months. That is a worst case scenario, but it does happen very often so it is something to look out for. But another solid reason not to close cards is because often times credit agencies will dock your score for closed cards in your name. It is much better to pay a card off completely and simply discontinue using it by cutting it up and trashing it. This eliminates any purchases on the card and when creditors look at your history they will just see a credit line with a paid down balance. By doing these 3 things you can make a huge difference in your credit score and save yourself in the future.