Prime Your Credit
In case you need to fall back on credit in the future, consider opening a home equity line of credit now. “The best time to get approved for a line of credit is before you need one,” says David Almonte, a member of the American Institute of CPAs’ Financial Literacy Commission.
Ask your credit card issuer to raise your credit limit, too. That will not only help you lower the amount of available credit you use (and lift your credit score) but also put more credit at your disposal in a pinch. Consumers are 50% more likely to receive a credit-line increase between January and May, according to a study by the credit bureau TransUnion.
To maintain a healthy credit profile, keep the balance on each credit card to less than 30% of the limit.
