Your credit (FICO) score is determined by many factors. If you have a 730 score that is considered pretty good. With that kind of score, you can buy a new Toyota car with zero interest. If you go to school and receive government guaranteed student loan for three or four years, your credit score goes up. The more credit or loan you get from government, for instance, the better your credit profile will look – up to a certain point. If you pay your bill on time, that will also contribute positively to your credit score.

But, if you are late or skip payments of your bill when they are due, forget it, your credit score will go down. If you apply for credits but are denied, your credit score might also be affected. Don’t apply for credits from stores, such as Walmart or Target. They can pull down your sores significantly. In short, don’t apply for any credit unless you have to. Also, don’t make frequent credit inquiries.

I believe it is better to apply credit from your bank, and not from stores.

The only exception is when you want to buy your casket and burial plot on credit. Did you get the idea?