7 Hints to Enhance Your Chance to Get Best Credit Cards

Your credit score is calculated based on the amount of interest you have to pay for your loan or credit card. Getting your score up by just a few points will make a considerable difference in the interest rate you will have to pay for a purchase. If your credit rating is high enough, you will not have any problems qualifying for a creditor's best rates and terms on car loans, mortgage loans and small business credit. We suggest you some tips on how to improve and maintain your credit rating.

Owning a mortgage loan or a business credit card takes a great deal of responsibility.

• Order your credit report.

Your credit score depends on your credit report, so the first thing you should do is to order your credit reports and to review each one for inaccuracies. You can obtain your reports from online services, or order them from the three major credit reporting bureaus - Experian, Equifax, and TransUnion online or by phone.

• Check your credit report information carefully for inaccuracies.

Check your personal information for the name, social security number, birth date and correct address. Make sure that the old errors and paid off credit debts are removed. Check for the accounts and delinquencies that belong to you, late payments, lawsuits, judgments, or paid tax liens older than seven years. Also, don't forget to dispute paid liens or judgments that are ranked as unpaid, bankruptcies older than ten years, and any other negative information that is not yours.

• Always pay your bills on time.

Your payment history makes up more than a third of the typical credit score. If you used to be paying your bills late in the past, you can improve your credit score by beginning to pay your bills on time. Lenders are looking for any sign that you may default, and late payment is a good indicator that you are in financial trouble.

• Try to keep your credit cards balances low.

Carrying smaller balances is the best way to increase your credit score and to qualify for best credit cards. The score indicates how much of your limit you use on each credit card or other line of credit, and how much of your credit limits combined you are using on all your cards. Paying down credit card balances can increase your credit score by as much as 20 points within 60 days.

• Try not to open in-store credit cards.

Although your first credit accounts can help you to build and improve your credit history, there comes a point when each subsequent credit application can reduce your score. New credit cards reduce the length of your credit history, and a department store credit card isn't a good evidence of credit worthiness. Every time you apply for a retailer store credit card your credit score gets down.

• Be conservative when applying for credit.

Having at least one credit card for more than 2 years old can help your score by 15 percent.

• Don't close credit cards or other revolving accounts.

Shutting down unused accounts that have outstanding balances without paying off the debt changes your "utilization ratio", which is the amount of your total debt divided by your total available credit. It will reduce the gap between the credit you are using and the total credit available to you, and that can hurt your credit score.

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