Credit Score Articles Secrets of Maintaining a Good Credit Score Tip! Manage your credit card balances. It's best for your credit score if the balance on a given card is less than 50% of the limit on that card. Score has always been an important part of human life; it could be in school or college, where you are recognized for your good score and scolded by parents and teachers for bad score in exams. And this trend continues for the rest of life. Even the finance market could not stay away from it. If you have a good credit score, you are seen as worthy borrower by all the creditors as your credit report reflects your good credit worthiness. But it holds opposite for the bad credit scorers, you need to face the embarrassing moments when you are denied for the loan of your choice because of few past mistakes. Numerous advantages are attached to good credit score and in case you also want to maintain it, just keep few things in mind and soon best lenders in the market will be ready to lend you the money and that too at your terms. First of all, you need to find out what your credit score is. You can also take the help of credit rating agencies who will work out a credit report for you, which most of the lenders ask for when you apply for a loan. A score of 500 and above is considered to be good. A good credit score attracts low interest rate loans. If you have a good credit score then there is nothing to worry, keep making due payments on time and you can maintain the credit score. Tip! Do not close old or paid off accounts. These show the credit history length and contribute to higher credit scores. But real problem arises when you have a bad credit score. Lenders find bad credit scorers risky lending as they may repeat the same mistakes that they have done in the past again. And they do not want to put their money in risky hand and even if they do lend the money to bad credit scorers it comes with a penalty of high interest rate. With the growing responsibilities and the number of loans that one tends to take from time to time has resulted in the increasing number of bad debtors. The foremost thing you need to do is to maintain discipline in your life. Discipline in personal life as well as towards finance can work wonders for you. Overspending habits and negligent behavior is seen to be common factors that push one into the bad credit trap. Tip! Try to keep your credit balances as low as possible. You can also ask the lender to increase your credit limit which can increase your credit score. Start with making the list of loans that you owe mentioning its due date and date of monthly payments. In case, it is difficult for you to remember all the dates, mark them on the calendar and hang it at place where you can take a glimpse at it at least once a day, you can put it in your room or kitchen. There is one more alternative available; you can take a Debt Consolidation loan which will give you freedom from questions such as whom to pay, how much to pay and when to pay. This loan will help you in replacing multiple loans with a single low monthly payment. It's absolutely your choice that whether you wish to take care of your debts yourself or want to transfer all debt related burden with the debt consolidation loan, this will result in improving the credit score and building good reputation among the creditors. Tip! Thoroughly review your credit score for errors or outdated information. Quite often, certain lending institutions are not due diligent on updating old information. One more aspect that you need to look into is your finances. It is true that you wanted to fulfill as your desires but lack of funds has forced you to take loan from time to time. You need to keep a watch on it as this is one of the factors that have resulted in pushing you into the never ending vicious circle of debts. First, bring your credit score back on the track and then you can enjoy the benefits of low interest rate loan which you can get only if you have a good credit score. Only your good credit worthiness can help you get the loan of your choice. Sally Thompson has spent most of her life in the field of finance. She has done her Masters in Finance and expertise in writing articles on Financial as well as Credit products.