Own Major Credit Cards
If you are going to own a credit card, make sure it is from a major company. Credit cards from department stores or gas vendors are not considered to be major credit cards because they are usually issued by finance companies that are sub prime lenders.
The best way to consistently increase your credit scores is to maintain a few major credit cards well over a long period of time. This is because unlike the credit companies and some types of independent lenders the big four – Visa, MasterCard, American Express and Discover always report credit history to the three main credit bureaus.
So if you must have credit, keep in mind that the FICO scoring system considers the following cards to be “quality†credit that can raise your score –
• Visa
• MasterCard
• American Express’
• Discover
Even having just one of these cards can substantially up your credit rating.