HOW CAN I IMPROVE MY CREDIT SCORE?

Your Credit History

Your credit score can have a huge impact on your buying power whether you realize it or not.  In this day of identity theft, it is even more important to monitor your credit to make sure items on your credit report are, in fact, yours.  Although you may have had credit issues in the past, there are several ways you can increase your credit score.

How can you improve your credit score? 

• Check your credit at least once a year with all three credit bureaus - Equifax, Experian and TransUnion.
• Make sure you close any account you don't use or haven't used.
• Make sure your credit limit and balance are not the same, as that will decrease your credit score.  Ideally, a 50% ratio or less between your outstanding balance and your credit limit is good.
• If you transfer balances, be sure to close the old account.
• Limit the number of credit cards you have and/or use.
• Pay your bills on time!
• If you have an open collection item, a charge off, etc., contact the company and arrange to pay off or settle.  Be sure to get documentation in writing stating that the item has been "paid in full" or satisfied.  Make copies of this documention. Keep one for yourself and mail a copy to each of the credit reporting agencies requesting they update your credit report.
• Keep your credit usage to a minimum.