How to score points in the credit game

— Paying late — the impact is large and lasting.

— Closing credit cards — it can reduce your overall credit limit and the length of your credit history.

— Applying for a lot of credit at once — credit checks can nick your score.

— Letting card balances stay above 30% of the limit — credit utilization, or the portion of your limit you have in use, has a major impact on scores.

While paying down balances is a good idea, it’s not always realistic.

If you’re whittling down credit card balances, be strategic. The number of cards with balances influences credit scores, says credit expert John Ulzheimer. The “snowball method” of debt repayment focuses on wiping out your smallest balances first.

Relatedly, if you have only one credit card, Ulzheimer says adding a card or two could be useful. Assuming your spending stays about the same, the credit limits on the new cards will reduce your overall credit utilization. And if your card is lost or stolen, you still have access to credit.

You can move credit card debt to a personal loan or even a 401(k) loan, essentially making it disappear from credit utilization calculations. But if you have not addressed the circumstances that led to the high balances, a new loan could be a step deeper into debt.