News Details (Posted: February 18, 2004):

Improve Your Credit Score

Contact Information:

Paul LeJoy
(209) 825-8089

Full Description:

I am amazed the alarming number of Americans in debt and the increasing number of those declaring bankruptcy. Things needn't be this bad. What Determines Your Credit Score? If you have tried buying a house or some other BIG dollar item, then you know to what extent your credit score affects your potential creditors perception of you and your ability to borrow. I cover this topic in depth at http://lejoy.com. For the sake of space, I will simply list the points here and allow you to digest further at http://lejoy.com if you so desire. Here's what creditors are looking for Payment History: makes up 35% of score Length of credit history (15%) New request for credit (10%) The following measures can help improve your credit scores Pay your bills on time Keep your balances low Don't get too many credit cards. Get only what you can use, or simply pay cash or use your ATM/check card Don't open a lot of new accounts too rapidly, especially if you have been managing credit only for a very short time If you have had credit problems, work to re-establish your credit history Most important of all, stay on top of your FICO score. Check it periodically. It's inexpensive and won't affect your credit rating if you order it directly from the credit-reporting agency or through an organization authorized to provide credit reports such as myfico.com This and other important financial education material can be found at http://totalsolutions.ws Total Solutions Inc. lejoy@totalsolutions.ws