[To comment: larry@larrylitwin.com]
Consumer Reports suggests the following to improve credit scores in the long run.
- Sign up for automatic bill payment. A late bill can make your credit score drop by as much as 100 points.
- Watch the timing of your spending, especially if you plan to apply for a loan. The lower the balance, the better the credit rating.
- Limit credit-card applications. Each time a lender inquires to view a credit report, it gets noted and can reduce the score.
- Think twice before canceling cards. Consumers gain points if they are tapping only a small percentage of the total credit available to them.
- Make sure credit limits are posted
From: www.courierpostonline.com
[To comment: larry@larrylitwin.com]