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The Helena Arkansas Daily World - Helena, AR
  • Improve your credit score now

  • How's your credit score?Everyone has seen the commercials on television emphasizing the importance of having a good credit rating. Credit Counseling of Arkansas agrees that it is important to save on expenses and to lock away some money in savings. According to a CCOA press release, better credit means a better credit c...
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  • How's your credit score? Everyone has seen the commercials on television emphasizing the importance of having a good credit rating. Credit Counseling of Arkansas agrees that it is important to save on expenses and to lock away some money in savings. According to a CCOA press release, better credit means a better credit core, which means better interest rates on credit cards, home and car loans. This, in turn, means borrowers saving thousands of dollars. About 65 percent of credit scores is based on payment history and the amount of debt owed. CCOA says to improve credit it is crucial to pay on time and keep debt down. According to Fair Isaac & Co., a leading credit scoring company bases credit scores on a range of 300 to 850 – with the higher the score the better. Those who have never used credit will not have a credit score. People who rarely use credit won't have a high credit score because the FICO prefer consumers that have credit and use it. Under federal law, consumers can obtain a copy of their credit report free each year from Experian, Equifax and TransUnion. The score is compared to the national average. The report also provides tips on how to raise the credit score. Get a free copy of your credit report by online at www.annualcreditreport.com or call 1-877-322-8228. It is important to review the report for any errors or fraud, which can devastate credit. “Good credit can not only save thousands of dollars, but it can help with employment and housing rental as well,” commented Mark Foster, director of Education for Counseling Credit of Arkansas. “Credit impacts several areas of our lives.” Here are a few additional credit tips from CCOA: • Owe less than half of your credit card's limit. • Apply for credit sparingly. Each time you apply for credit, it takes a few points off your score. CCOA offers free budgeting and credit counseling sessions. Consumers can contact CCOA at (800) 889-4916 or go online to www.CCOAcares.com.
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