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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Ways to improve your credit score

The Spokesman-Review

Pay bills on time. Late payments, collections and bankruptcies hurt your score the most.

Check your credit report regularly – ideally once a year. If you find an error, contact the creditor associated with the account or the credit reporting agency to correct it immediately.

Watch your debt. Keep your account balances below 50 percent of your available credit. For instance, if you have a credit card with a $1,000 limit, keep the balance below $500.

Give yourself time. Time is one of the most significant factors in a strong credit score. Establish a long history of paying bills on time and using credit responsibly. You also may want to keep the oldest account on your credit report open to lengthen your period of active credit use.

Avoid excessive inquiries. A large number of queries about your credit over a short period of time could be interpreted by creditors as a sign that you are overextending yourself by taking on more debt than you can repay or are opening numerous credit accounts because of financial difficulties.

Source: www.myvesta.org

Experian PLUS credit score averages nationally for each age group:

Ages 18-29: 637

Ages 30-39: 654

Ages 40-49: 675

Ages 50-59: 697

Ages 60-69: 722

Ages 70+: 747

According to Experian, a PLUS score

is a numeric representation of financial behavior, based on credit report data and ranges from 330 to 830.

Source: Experian nationwide survey released this summer

Starting this year, federal law allows each person one free copy of her credit report annually.

To order: www.annualcreditreport.com or (877) 322-8228. Or fill out the

Annual Credit Report Request Form ( www.ftc.gov/credit) and send to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

If you’re willing to pay between $10 and $40 for more frequent reports, check: www.myvesta.org or myfico.com, www.transunion.com, www.equifax.com and www.experian.com.