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How do I maintain my good credit scores?
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Last Updated
4th of May, 2009

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You have to be very careful when maintaining already good credit scores. In most cases, the wrong actions could be costly.

It is much easier to maintain a good score than it is to improve a poor score. As with any score type, the key to maintaining a good score is to understand why your score is good in the first place. Good credit scores are much more susceptible to downward score movement than bad scores. There are a lot more points to be lost than gained once you are in the 700+ range. With one false step, your credit scores could potentially fall 100 points or more.

Good credit scores are usually the result of a few healthy financial habits. Making all your payments on time and avoiding negative information such as public records and collections are two big factors. Consumers with good scores have usually managed their existing credit very well and aren’t in an excessive amount of debt. And when it comes to shopping for credit, they only do so when it’s absolutely necessary.

It is particularly dangerous to become unsatisfied with a good credit score. You don’t need to have a perfect score (850) in order to get the very best offers from lenders and insurance companies. In fact, an 850 score is almost unheard of. Yet there are some people who are dissatisfied with anything except the elusive perfect score. They try unproven and dangerous strategies to earn a few extra points.

If your scores are around 760 or higher, leave them alone! Every lender in the country already thinks you’re perfect. Despite the fact that your scores are 90 points from the top score, you don’t need to do anything. You won’t get a better offer at 850 than you got at 800 or even 760.

Quick Tips
  • Keep your debt-to-limit ratio around 10 percent for the best possible score
  • Do not close old accounts
  • Pay all your bills on time
  • Aim for 10+ years of positive credit history
  • Don’t make dramatic credit changes

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