Applying for more than 10 credit cards and paying off the balances over the last 3 years
has improved my credit score by 130 points! I am literally just shy of perfect credit? So how did I do it?
Learn how to manipulate your credit score through travel hacking?
Credit Scores are determined by the actions you take using them, right?
Pretty simple, right? The three areas above: total accounts, credit utilization and payment history make up 75% of my credit score. So what about the hard credit inquiries? Yes, they can temporarily move the needle down, but I have found that it’s so minimal that my credit score still has increased despite this.
Cancelling Credit Cards
Here’s where it gets tricky. If you need to cancel a card, cancel a newer one without “credit payment history”. My suggestion is stick to 1 or 2 main cards and hold on to them for years creating years of payment history…then add a handful of travel credit cards with awesome sign on bonuses to earn free travel every year. I have 2 10+ year old credit cards that haven’t carried a balance in over 10 years. I won’t ever close those cards as they hold the history the banks look for!
Please note, I am not a finance advisor. I simply am sharing my experience with travel hacking, credit card signups and credit scores.
To check your current credit score, I highly recommend Credit Karma.