The table on the right reflects the American public's credit score range as determined by data from Fair Isaac Corp.,a California- based company that developed the first credit score as well as the fico score. 

Its scale or credit score ranges from 300 to 850.  Did you know that creditors are given the authority to report a derogatory item or information against your credit file, in most cases without your knowledge and you automatically are considered guilty until you provide proof otherwise?

You hear about it all the time, the importance of maintaining high credit scores. But it isn't until it actually happens to you.  You find out they didn't give you the lowest interest rate offer on your new car loan or better yet, they didn't qualify you for that $7500 unsecured line of credit that you have been receiving approval letters for the past year and now they will only lend you a fraction of their original offer.
 

Credit secrets and tips

- Do pay down revolving credit card debt to below 30% of the available maximum balance.

- Do not close accounts unless your reason code or credit score factors (on your credit report) indicates that there are too many revolving accounts and all of your accounts have little or no balances.

- Do not consolidate debt onto one or two cards and close other cards, or lower your existing credit limit as your outstanding balance declines.  That advice may artificially skew the appearance of your credit utilization.

- Review the credit information in your file with each credit bureau or repository for accuracy, whether good or bad.  Entries that have "maxed-out" balances even with no lates represent higher risk. The three major credit bureaus or credit repositories are Equifax, Experian and Transunion.

-Be weary and cautious when solicited by credit repairing companies.  Due to the current increasing demand for credit repair and related services, many new companies are coming out of the woodwork claiming to be the expert on the subject of credit repair. 

Be sure to do your homework before hiring a credit repairing company or service and check with your local better business bureau and find out if the company has had any complaints recently.  Avoid companies that have had excessive complaints without resolution in the past 36 months. 

This one step can save you hundreds of dollars and valuable time.

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