How to improve your credit score
• Find out what's on your credit report. Georgians are entitled to free reports twice a year from each of the major credit reporters. To order a report, call Equifax at 1-800-685-1111, Experian at 1-888-397-3742; or TransUnion at 1-800-916-8800 or 1-800-888-4213.
• Pay your bills on time. Late payments are a major black mark.
• Keep unpaid balances low. This includes car payments as well as credit cards.
• Think twice before closing unused credit card accounts. The borrowing power helps keep your utilization rate relatively low.
• If your credit history is short, don't open a lot of accounts too rapidly. It will lower your average account age, which makes lenders nervous.
• Having trouble making ends meet? Contact your creditors or a legitimate counselor, such as the Consumer Credit Counseling Center of Greater Atlanta (www.cccsatl.org, 1-800-251-2227).
Note: The rules have changed, according to myfico.com: You don't lose points these days for seeing a credit counselor.
These Internet resources may also help:
• Information from federal regulators, www.ftc.gov/bcp/menu-credit.htm
• Tips and general information, myfico.com and click on Understanding Credit Scoring.
• To check out average scores here and elsewhere, www.nationalscore.com/AreaScore.aspx.
— Hank Ezell, The Atlanta Journal-Constitution
