[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]

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