Improve your credit score in 2012

Dreaming of buying a home this year? Then now is the perfect time to take some simple steps toward boosting your credit score so you can take advantage of today’s low mortgage rates and affordable home prices.

In the January issue of Illinois REALTOR® magazine, JoAnn Sworan, an Illinois REALTOR® and president of the credit repair company Real Estate CSO offers “7 Steps to Improving a Credit Score.”

1. First, find out where you stand. Obtain a copy of your credit report from AnnualCreditReport.com, or other credit reporting sources.

2. Calculate your credit utilizations on revolving debt (credit balance divided by your credit limit=CU). A CU below 30 percent is good; below 15 percent is even better.

3. Identify and verify before paying accounts in collections but be aware that paying can negatively impact your score.

You can find JoAnn’s other four tips in the latest Illinois REALTOR® magazine.

One thought on “Improve your credit score in 2012

  1. I have listed my dreams for the 2012 too. Like you, I have included ways on how to improve credit score. It is not quite easy as everybody knows, but hope is wide awake, and there is always a way. The tips you got here are great. I might as well include them to mine. thanks.

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