TIPS ON HOW TO KEEP A GOOD CREDIT SCORE

Rather your buying a home or renting an apartment, having good credit is important.  Here are a few tips to help you keep a good credit score.

  
1.    Charge some regular bills to a couple of credit cards and set
        up automatic payments to pay the balances in full each
       month.

2.    Keep open your highest-limit credit cards, since those have a
       strongly positive effect on your credit utilization ratios.

3.    Having plenty of credit cards may be good for your scores,
        but don't lose track of due dates.  Set up account alerts and
       consider automatic payments so that at least the minimum
       balance is covered each month.

4.    Having and using a couple of credit cards, and paying off the
        balances in full each month, will help you get good scores.

5.    Having installment loans (such as a mortgage, auto loan,
        personal loan or student loan) as well as credit cards on
        your credit reports can help you speed the process of   
        rehabilitate bad scores.

6.    The less of your credit card limits you use, the better. Using
        30% or less of your limits is good, 20% or less is better,
        10% or less is often best.

7.    Keep track your medical charges, and follow up if your
        insurance hasn't paid a provider. There's no requirement  
        that you be notified before a medical account is turned over
        to collections.

8.    Negative marks on closed accounts, (late payments or
       charge offs) can stay on your credit for seven years and
       positive accounts can be reported indefinitely.

9.    Take advantage of your free annual credit reports, since
        many contain errors that should be fixed. This does not hurt
        your credit if ordered from a federally mandated site.

10.    Decent credit scores are required to get a loan from any
       mainstream lender. If you do get a loan with "manual
       underwriting," you're likely to pay a higher interest rate for it

- MSN