EQUAL HOUSING
OPPORTUNITY
The finest compliment I can ever receive is referrals from friends, family and customers
Dana F. Williams
Mortgage Broker
480-563-4771
480-563-4772 fax
dana@adlmortgage.com
How Can You Improve Your Credit Score?

Make sure that the information each of the three credit reporting bureaus has on you is correct and up to date. Order a copy of your credit report once a year. As of September 1, 2005, everyone has the right to get one free copy of their credit report per year from each of the three major credit reporting agencies (FICO Score not included).  Call the Annual Credit Report Request Service at 877- 322- 8228 for  information, or go online at www.annualcreditreport.com to order.  


Tips to improve your credit score include:

Correct errors that affect your credit score:  Contact each agency directly.
Equifax (Beacon Score): 800- 685-1111, www.equifax.com
Experian (FICO Score) -formerly TRW: 888- 397-3742, www.experian.com
TransUnion (Empirica Score): 800 888-4213, www.transunion.com
If you find an error, the agency must investigate and respond within 30 days.

Challenge negative accounts:  If the account is not verified by the creditor within 30 days, the account must be removed from your credit report.  This works well for older accounts and mistakes on your credit report.

Ask creditors to remove delinquencies: If you had a late payment with a creditor that you have a generally good credit history with, you can ask to have the delinquency removed.  Get it in writing and send a copy to each credit reporting agency.

Lower your credit card balances:  Don’t "max out" your credit lines. Since the size of the balance on your open accounts is a factor, lower balances are better.  The general rule is to stay below 40 percent of your revolving credit limits. Asking your creditor to increase your credit limit can improve your percentage, but will work only if you do not increase your balance.

Use old cards:  Keep one of your oldest credit cards open and in use, as older accounts
will give more weight towards your credit score.  Opening new accounts can lower your
score in the short term. 

Make payments on time:   Late payments and  missed  payments  work against you.  It's
extremely  important to get current  and pay bills on time,  even if  it's only the minimum
monthly payment.                                                                                                                                                           
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