How to build your credit score?

Credit Score is a score ranging from 300 to 850. This number is being provided by Fair Isaac Company, after consolidating various parameters from the credit bureaus Experian, TransUnion and Equifax.

Here are few points to build your credit score in a period of time:

1) Pay your bills on time - best would be immediately.
2) Use your credit card for only 20-30% of your credit card limit.
3) Do not open too many credit cards.
4) If you have opened too many credit card accounts, do not close them, unless it is highly needed.
5) Pay the credit card bills in full, without paying any interest.
6) If you do not have a credit card, open now, then only you will have a credit scroe!!

I guess these points should have been helpful for you. If you maintain a good score, then obviously you will get loans with lower interest, otherwise the creditors will rip you off.