Using Multiple Cards:

"If you want to repair credit, you have to use credit, but you just use it responsibly," Lapine said.

Don't cancel credit cards, even if you have multiple cards.

"Tear them up, cut them up, if you're not going to use them, but don't affimatively cancel the credit card,"

If you apply for multiple cards, Lapine said it would reflect negatively on a credit score.

Paying Credit Cards Off:

Paying ahead of the monthly deadline is Lapine's best suggestion for not missing payments. If you miss payments, it will be reported and then reflected on the credit score.

"It's important to be ahead of the payment deadline, pay as much as you can," he said.

Creating a personal budget plan will also setup a system to avoid delinquencies on credit card payments.

LISTEN To Lapine explain why you should budget

Checking Your Credit Score:

Every consumer should order a credit report for free once a year according to Lapine. He recommends using www.annualcreditreport.com to track how you're doing, but he warns many other sites have alternative motives.

"These other sites will typically try to sell you a credit report or sell you your credit score," Lapine explained.

He said consumers need to be careful not to offer too much personal information, especially social security numbers.

Yahoo! Buzz

Reddit

Stumble It!

del.icio.us

Seed Newsvine

Comments
There are currently no comments on this story.

If you wish to leave a comment, please log in or register.

user name:    password: