Bitcoin Forum

my credit score is approaching 700 and i want to hit that number. i have a few credit cards that have been helping me do that but i don't use them much and would like to start using them more. i don't want to be buying things i don't need so i'm wondering if you guys can think of a way to make charges to the card but the money comes back to me. for example, sending paypal to myself. so far the cheapest method i can think of is buying USPS money orders at the post office and cashing them myself. but they still cost $1 per money order and if i do this every month with multiple cards it's going to add up. i also would rather not be driving to the post office every month.

anybody got any brilliant ideas?

Just use them the next time you need to make a purchase (groceries, gas, games, internet, etc). When it comes to improving your score, credit utilization ratio is important. This is the amount of credit you use relative to your credit limit. It's recommended to keep your credit utilization ratio 10 percent or lower. So if you have a $1,000 credit limit, don't spend anymore than $100 dollars per billing cycle and you'll be good. If you don't spend that much, perhaps you can ask your carrier if it'd be possible to lower your credit limit to like $500.

Just be sure to pay off all your credit card balances in full each month (don't default) and your credit should improve. Also, don't close any old accounts even if you don't use them that often b/c the longer you maintain a credit card account, the higher your credit score will be. There's a lot of information about what goes into a credit score here http://www.is650agoodcreditscore.com (http://www.is650agoodcreditscore.com).

there are better ways than credit score. Like collateral for example, check out salt lending
it's a new company that wont's to use collateral instead of credit score which is much more reliable, cool concept