Things to do to improve my credit score

WEST PALM BEACH, Fla. - These tips are from Darish Still, President and Chief Executive Officer of Consumer Credit Management Services, Inc.

Three 3 tips can help you improve your credit score:

1.    If you are not current on your accounts, get current and stay current.  35% if the score considers your ability to pay your bills on time.

2.    Keep your account balances low.  If your balances are high, pay them down.  30% of the score looks at the amounts owed on your accounts.  The general rule is to keep your balances below 1/3 of the accounts available credit.

3.    Open new accounts only as needed.  15% if the score considers how long you have managed credit.  One of the numbers considered is the average length of credit history.  Opening new accounts decreases this average resulting in a lower score.

Monitor your credit report annually by visiting www.annualcreditreport.com . It's a free service that gives you access to your report from all three major credit repositories. Studies show that 70% of credit reports contain errors which can affect the score.  By closely monitoring your report you can detect these errors or any fraudulent activity which can also lower scores.

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