This is the time of year people don’t concern themselves with their credit score. However, if a sudden need for additional credit is required you may end up paying more for the money in interest rates, or unable to get the financing you need. It is best to establish a budget for the holiday shopping keeping in mind that you want to get your credit card balances back to under 30% of the credit line as quickly as possible to raise your credit scores back up.
The closer you get to maxing out your credit cards the more your score will plummet. I have seen a credit score improve by 85 points in one month by the client paying a line of credit from 93% down to 25%. This put the median score at 738 points.
To raise your scores as quickly as possible use your revolving credit lines to purchase only the things you buy every month (e.g., gas and groceries). Rotate the use of multiple credit lines quarterly to keep them active, and pay off the bill when it comes in!