Once your beacon reaches 760, you are considered to have an excellent credit score. But you did not get there easily. Reaching that great credit rating took a long time but maintaining it can be difficult unless a person is really frugal and wise with their money. The key to keeping that top rating is by paying bills on time, all the time. The quickest way to get into a rut is by procrastinating paying your bills on time. Pretty soon you can fall behind.
While it is always a good idea to have one or two credit cards, having five or more makes no sense and can land you in trouble. Also, the fastest way, besides paying off debt in full, is if you cannot afford it and do not need it, do not use it. A well balanced debt and one that is controllable will help grow and create an excellent credit score that will make you proud.
It is entirely possible to see your credit score go down when there becomes too little debt owed. To some this may seem ridiculous but it is true. Your credit score will be an accumulation of years of credit history. How you pay your bills and use your cards can have a direct effect on your overall score. Those that have an excellent credit score can qualify for so much more than those that have money but a low score.
Some folks use their cards and pay them off once they are billed. This does not help your credit score that much, but it certainly keeps you out of debt and falling behind on payments. It takes a long time to have an excellent credit score and a very short period of time for it to fall drastically. It is good to use your credit cards, just stay on top of your finances and