Seven simple steps to improve your credit
- Get a copy of your credit report. A couple of places FreeCreditReport.com or CreditKarma.com will provide you with a free copy.
- Review the debts listed along with the payments. Make sure the information is accurate. If it isn’t, go to each company (Equifax, Experian and Transunion) and dispute the findings.
- Make sure that you don’t exceed 50 percent of the borrowing capacity on your revolving debts.
- Check for unpaid medical collections and or judgments.
- Do not apply for multiple ‘specialty” store credit cards, i.e. Sears, Penney’s, Victoria’s Secret. It is better to apply for a Discover or Visa that is accepted everywhere.
- Resist the temptation to apply for store cards to get that additional 5 percent off your purchase. Having your credit pulled by many stores can really drop your score.
- Do not close out all your old credit card accounts. This could reduce your score as well. Instead quit carrying those cards and keep them in a safe place.