Did you know that by owning a credit card and not using it, your credit score gets worse? When you think about it, it makes sense, after all, if the credit is not being used there is no opportunity to see if you repay it promptly, thereby handling debt responsibly and gaining a higher score.

Although it may seem like a catch 22 if you feel you do not have the discipline to pay off your credit card in full each month, owning a credit card and not using it can be very detrimental to your credit rating. If you doubt your ability to pay off the balance in full each month, it is better for your credit rating to not own a credit card at all.

 

Do you doubt your ability to pay off a credit card in full each month? Do you have any of your own tips to increase your credit score without the use of a credit card? Please share your thoughts in the comments below to gain encouragement, insight and support from our community, we’d love to hear from you.