credit history for over a few years many people tend to forget that it’s not such a
good thing to have a lot of credit out there. There is such a thing as too much
credit and it can actually hurt your credit score if you are not careful. I’ve even
had to decline applications for people with perfect credit scores just because they
are clearly overextended.
A very important thing for someone with good credit not to do is to go
crazy with credit cards. It is so tempting to open a different line of credit
everywhere you go because most companies give you a discount or incentive to
shop at their store using their line of credit. Another thing to watch for is taking
advantage of no payment options. A lot of people will keep purchasing and
charging new items forgetting they have a debt that still needs to be paid. If you
do decide to take advantage of a store’s credit card for a discount and then you
pay it off you should consider closing it if you don’t intend to use it again.
Another thing to remember about keeping your good credit is that it looks
much better to have two lines of credit half-way borrowed against than having
one of your lines of credit maxed out. Once you have established a good credit rating you should start to get offers in the mail from your credit card companied
to transfer your other credit card balances to their at a discounted rate. I always
recommend closing the cards you are paying off to keep yourself from being overextended.