Rob Henry
Phone 330-945-6752 x206 • Fax 330-945-6940

Credit improvement tip
Their are credit card companies like Capitol One, for example, that will only report the high "used" credit, not the high "limit"...Why is this bad and how can it hurt you...Its bad because it doesnt give full picture of your credit worthiness or allow other possible vendors with better offers to know that you have certain credit limits already, you may have them, but never used them...The next problem is that one factor in determining a credit score is your balance:available(B:A) ratio...Most scoring algorithms favor a 30% or lower number on credit cards, for example...So, you could have a $3000 limit on your Cap One card but never charged more than $800 on it and maintain a $500 balance or so...Instead of showing as a very low B:A ratio, it shows a very high one actually lowering the score or at least not increasing it as much as it should...So, if you have cards like that, you may want to try and call them to see if they will update record, tell them why or go on a spending binge one month, run the limit up with your normals bills and pay off next month so as not to disrupt budget...This will now show a higher limit and lower balance!...

Be sure to review your credit report for inaccuracies. Many people have errors on their credit report that causes a lower score than they deserve. Disputing these inaccuracies could improve your credit.

The easiest and most widely know credit improvement tip is to pay all of your bills on time. Paying all of your bills on time will help to not only maintain, but to increase your credit scores quickly and efficiently. Knowing which debts and credit liabilities report to your credit report each month can help you to make sure you are paying all of your bills on time and maximizing your credit score.

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