Do’s…….

• Pay your bills on time. Delinquent payments and collections have a negative impact on credit history.

• Bring missing payments current, and stay current. Credit history improves the longer the payment history reports a current status.

• Maintain low balances on credit cards and other revolving credit. High balances can affect credit history.

• Pay off debt rather than moving it between financial institutions.

• Build new credit history following debt problems. Open new accounts responsibly and pay them off on time.

Don’ts……

·        Establish unnecessary credit accounts with retailers for short-term discounts or rebates.

·        Open new credit just to increase available credit. This approach could backfire and actually weaken your credit history.

·        Open multiple new accounts if you have been managing debt for a short period of time. New accounts will lower the average account age. Rapid account build-up, coupled with a short credit history, may be seen as risky to a credit provider.

·        Submit frequent credit applications. Even the act of applying may cause a creditor concern.

The best advice is to manage credit responsibly over time. Your credit history will begin to improve as the overall credit picture gets better.