-- Helpful Tips To Help You Maximize Your Credit Score --

Obtain your credit score through the 3 credit reporting bureaus:

       Equifax,         800-685-1111, eqifax.com

       TransUnion     800-888-4213, transunion.com

       Experian         888-387-3742, experian.com.

Generally, there's a fee associated with obtaining your credit report unless you have been turned down for credit because of something noted in your credit report.  However, The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer credit reporting companies mentioned above to provide you with a free copy of your credit report upon request, once every 12 months.  Please note that in the State of Connecticut, a collection or judgement will remain on your credit report for 7 years. 

Get A Copy Of Your Free Credit Report  The only source available at this time (that I know of) for your free credit report to be completely free is www.annualcreditreport.com (877-322-8228).  There are also reports available at other sites such as www.freecreditprofile.com (which is run by TransUnion) and www.freecreditreport.com (run by Experian), but in order to actually obtain your free credit report from sites such as these, you must subscribe to a credit monitoring service at a cost and it will most likely be of little use to you.  You are entitled to a free report from each credit bureau once a year.  You can order all 3 reports from annualcreditreport.com .  Unless there are issues which need to be addressed on your credit report, you might consider ordering one at a time and ordering them a few months apart so that you can monitor your credit report throughout the year. 

Always Pay Your Bills On Time  This is vital and it just may be the most important factor that one might consider if they are considering giving you a line of credit.  Not only will paying your bills late cost you late fees and possibly increase your interest rate, when you are 30 days late or more, it will most likely be reflected in your credit report and remain there for up to seven years.

Bring your credit card balances down to less than 30% of your credit limit:  Keep the number of inquiries on your credit report down by not applying for new lines of credit.  Don't be lured into opening a new account because of sign-up perks, free gifts or discounts or for any other reason. The number of inquiries during the last 12 month period can affect your credit score.

Don't close your credit cards to lump your debt onto one card and open and close accounts with caution.  Having a low balance on several cards is better for your credit score than having a high balance of more than 30% of the available credit on one card alone.  By getting rid of your credit cards, you could also be throwing out part of your valuable credit history. The most valuable accounts in your credit report are your oldest accounts.

Make sure that you keep your credit card accounts open and be certain to use them at least once every 5 months.  Before you close any account, make sure that you talk to a mortgage broker because closing an account might lower your credit score in more ways than one.  Also make certain to use your cards at least once every 5 months to insure that the credit card company doesn't get rid of you.  If you end up costing them more in postage than you are accumulating in fees, it is possible that a creditor may try and get rid of you!

Request a copy of your credit report from all 3 credit reporting bureaus mentioned above at least 90 days in advance (if possible) before applying for a mortgage and check your credit report carefully for accuracy.  If you find inaccuracies or outdated information on your report, contact the appropriate credit reporting bureau in writing explaining the matter and include any documention (if availble) that you have and make sure that when you mail it, you request a return receipt.

The Information found above is deemed Reliable but Not Guaranteed and is for informational purposes only.