If you are concerned about your credit score, there is new information about what credit scoring companies deem important.

• One change that is being made is that there is a significantly more negative impact on a person that carries their credit balance near the limit. Experts are suggesting that people try to keep all balances owed near 30% of available credit.
• Another important fact is that you should never close an account with a zero balance. If you close the account, it can alter your total Debt to Credit ratio.
• It works in your favor to have a long credit history.
• Also, do not apply for too many credit cards, especially from companies that do not set a spending limit.  
• To raise your score, always pay your debts ON TIME. Your payment history makes up 35% of your score. A late payment can actually drop your score by up to 100 points and these late payments could last on your report for seven years. Bankruptcies last for ten years.
• If your score is below 620, people assume you are a bad risk dooming you to credit denial, sub prime interest rates, higher home insurance premiums, and possibly landlords withholding a lease.

To order a free credit report go to annualcreditreport.com.

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