How to Get Good Credit: "Step 3: Maintain only a Few Credit Cards As your credit rating improves, you will soon receive pre-approved offers from credit card companies and lenders with attractive rates and programs.
You should limit your credit to three to four cards only. Maintaining a large collection of cards can hurt your credit rating.
Step 4: Close All Retail and Gas Cards
Since you maintain three to four major credit cards (e.g., VISA, MasterCard, Discover, or American Express), it isn't necessary to hold gasoline cards, retail store cards, and other specialized credit cards.
Simply use your major credit cards.
Again, holding multiple cards can drag down your credit score.
Step 5: Don't Have Too Many Outstanding Loans
Excessive loan balances (especially loans that exceed your Debt-to-Income ratios) can effect your credit rating:
Maintaining a good credit rating requires that you reduce your debt holdings by consolidating balances, closing unused credit card accounts, and paying off outstanding loans.
Step 6: Avoid Charging Close to Your Credit Line Limit
Don't use your credit card up to your maximum credit line balance because this can negatively impact your credit rating.
Maximized credit lines (including home equity lines, credit cards and unsecured credit lines) indicate that you are a consumer who borrows willingly. Many lenders consider this a great risk and may not approve you for additional credit.
A good rule to follow is to keep your balances at or below 60 percent of the available credit line."
