How to Maintain a Good Credit History

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Maintaining a good credit history is all about paying bills on time, or ahead of time, and keeping the balances as low as possible. Pay out an existing credit card for one that has a bigger credit line with advice from a registered financial consultant in this free video on money management.

Part of the Video Series: Money Management
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Video Transcript

This is Financial Adviser, Patrick Munro, talking about how to maintain a good credit history. A good credit history is just that you need to make sure that everything you do in life is, in your credit life is dutiful, and you need to pay your bills on time. Preferably ahead of time and make sure you don't get into too many bills, that's the key factor there. Whatever credit cards you have, pay them on time, keep the balances low as possible and once you get to a point where your credit score is really good, you can pay out an existing credit card, for one that has a bigger credit line. That's very, very key as well, less credit cards, larger credit lines that you're not maxing out, and this will result in a good credit history going forward. Some of the other situations that will help you too, is to have a good time on the job, try to have a great banking relationship with excess dollars in the bank, not bouncing any checks or anything of that nature. These are all things that are monitored by the credit bureaus. This is Patrick Munro, talking about how to develop a good credit history.

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