Your Credit - How do you know what lenders see? Get Your score.
Life in these United States is credit-driven. Credit (or lack of it) can make a big difference in the car you drive, where you can shop, and more especially where you live. Everyone knows maintaining good credit is essential to moving ahead.
If you're unsure of your own credit, you may use Equifax [I'm in Atlanta, Equifax is the Southern repository for credit, other geographical areas use TransUnion and Experian] to determine what is being reported in your name.
How is this information used? A credit bureau score is calculated from the information on your credit bureau file at the time that the information was requested. A credit score says: at this point in time, your past and current credit usage reflect this about your future credit action.
 Does it change frequently? Would you believe, every time it is pulled it is recalculated?
Credit scoring helps lenders level the field and apply one set of rules for everyone. They use modeling tools to follow for certain behavior patterns. And because of their sophistication, a 20-year-old's credit would not be compared to 45-year-old's.
Scoring models only analyze data and use it to 'predict' credit performance. And, information proven to be predictive of future credit performance is used. Information such as: how long you've lived at your address, what is your job or profession, how much you owe are some of the things considered. Credit bureau report info: the number of payments made late, any outstanding credit, credit being used, when credit was established. They may not consider race, religion, gender, marital status, birthplace, or current address.
Can you Improve your score? 
Well, yeah, make sure your bills are paid on time. Make sure no one else is using your credit. Those are the easy ones . . . There are a few other things that you may not have considered . . . having too much debt-to-credit (your credit cards are near the max) lowers your score. You could apply for new credit cards and move the balances . . . or you could ask your creditors to raise your balance.
You can also get new credit lines. Laloba Press offers a credit line with no credit check (!). It is for use in an online store, and there is a cost associated with it, but if it raises your score 30 points by being on your credit, it is probably worth it.
You have cards you don't use, and you want to close the account. DON'T DO IT.
If you have ten years of good credit being reported on a couple of accounts and you close them . . . you loose 10 years of good credit history. And, Your Credit-to-Debt ratio goes up. Your score can go down.
Cut up the cards - put them in a drawer. Forget about them . . . but don't close the account.
I'm in trouble - Bankruptcy or Credit Counseling?
You have to make that decision for yourself, but don't think being in Credit Counseling isn't a problem with getting a mortgage. While it may not affect your score, underwriters view credit counseling like they do a bankruptcy. They want to see a twelve-month payment history, and it better be perfect.
The Big 3
(Bureaus, that is)
Equifax
P. O. Box 740241
Atlanta, GA 30374-0241
1-800-685-1111
if you are in Colorado, Georgia, Maryland, Massachusetts, New Jersey or Vermont, call:
1-800-997-2493
Equifax Website
Trans Union Corporation
Consumer Disclosure Center
P. O. Box 1000
Chester, PA 19022
1-800-888-4213
to get your credit report
1-800-916-8800
for questions about your report
Trans Union Website
More 
| 
