credit cards

5 fantasy baseball tips to improve credit

Don't give up on your team after a loss
5 of 6

Just because your team is performing poorly doesn't mean you should walk away. By the same token, you should think twice before you quit your credit habit cold turkey.

Winning strategy: Although you may have the urge to cut up your credit cards if a balance or two has gotten out of control, giving up on credit altogether will not necessarily help your score. "If you stop, you've frozen your history in a negative state. You're not adding anything positive," says Sweet. On the other hand, she says, if you keep using your credit minimally, pay on time and work to reduce your balance, you can rehabilitate your scores over time.

In fact, your score is always in a state of flux and will change as often as the information in your credit report does, similar to how a player's batting average changes with every plate appearance.

"The score is not a piece of data that is filed away and then pulled up when requested," says Paperno. "It's calculated at the time that it's requested using the most up-to-date credit info that's available."




Show Bankrate's community sharing policy
          Connect with us
Product Rate Change Last week
Balance Transfer Cards 15.90%  0.02 15.88%
Cash Back Cards 16.43% --0.00 16.43%
Low Interest Cards 11.16%  0.04 11.12%
Credit cards on a table

Get advice for managing credit cards, building your credit history and improving your credit score. Delivered weekly.


Credit Card Blog

Jeanine Skowronski

Bad credit? T-Mobile doesn’t care

The mobile carrier will offer its best deals to customers with bad credit who have paid their phone bill on time for 12 consecutive months.  ... Read more

Partner Center

Connect with us