Top 5 Ways to Improve Your Credit Score
A good credit history is a very important and valuable asset that all consumers need to keep safe. Good credit, and plenty of it, will lead to a good credit score. A good credit score in turn leads to better loan and  insurance rates. Plus, it can affect you in many other ways. A credit score is made up of a complex set of factors that credit reporting agencies use to determine a score. So, it's not cut and dry that by doing one of these tips it will launch your score to all time highs. But, if you do all of these steps it will lead, over time, to a much improved score.

Be Punctual - Pay all your bills on time. Late payments, collections, and bankruptcies have the greatest negative effect on your credit score.

Check Your Credit Report Regularly and Take the Necessary Steps to Remove Inaccuracies - Don't let your credit health suffer due to inaccurate information. If you find an inaccuracy on your credit report contact the creditor associated with the account or the credit reporting agencies to correct it immediately. Starting March 2005, in the state of Michigan, consumers are allowed one free credit report every 12 months from a credit reporting agency.  For your free annual credit report you can go to www.annualcreditreport.com,  by phone at 1-877-322-8228 or by mail at Annual Credit Report Service P.O. Box 105281 Atlanta, GA  30348-5281.  Or, if you are interested in more detailed credit report and tracking options Click Here.

Watch Your Debt - Keep your account balances below 50% of your available credit. For instance, if you have a credit card with a $1,000 limit, you should try to keep the balance owed below $500.

Give Yourself Time - Time is one of the most significant factors that can improve your credit score. Establish a long history of paying your bills on time and using credit responsibly. You may also want to keep the oldest account on your credit report open in order to lengthen your period of active credit use.

 Avoid Excessive Inquiries - A large number of inquiries occurred over a short period of time may be interpreted as a sign that you are opening numerous credit accounts due to financial difficulties or overextending yourself by taking on more debt that you can easily repay.

Resource Information from:
TrueCredit is a product of TrueLink, a TransUnion company.
©1998-2004 TrueLink, Inc. All Rights Reserved.

Montcalm Public Employees CU
1157 East Main Street
Edmore, Michigan 48829
989.427.5663
Fax: 989.427.3773
info@mpecreditunion.com