I have struggled for years just to get to the point where I now have 11 credit cards. Unfortunately, my credit score does not reflect the amount of major and department store cards that I own.
You see, having credit and having good credit are two completely different things. I have just enough credit to get credit but not enough credit to get credit limits above $1000.00.
The problem is that because my credit limits are so low, my cards tend to stay at or near the credit limits which keeps my credit score on the lower end of the spectrum.
The only conceivable way to improve my credit score is to pay my card limits down to next to zero which is never a bad thing. As balances go down, credit scores inevitably go up. My goal is to be mostly debt free within a year.
Having credit comes with great responsibility. Anyone can build credit history but it takes a huge amount of discipline to pay bills on time while keeping balances manageable. My quest to do just that starts today!
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