The top three cities and their scores are:
1. Wausau, Wisconsin – 789
2. Minneapolis, Minnesota – 787
3. Madison, Wisconsin – 785
The bottom three cities and their scores are:
141. Corpus Christi, Texas – 702
142. Jackson, Mississippi – 701
143. Harlingen, Texas – 686
You can see the entire list of cities, here.
How to improve your credit score
Dorothy Barrick, GreenPath Debt Solutions counselor, says there are many things that determine how your credit score is compiled.
For example, you have to pay attention to the credit that you currently have, as well as opportunities for opening new lines of credit.
“If you close a credit card without a balance, you are raising your debt to credit limit ratio, which lowers your credit score.
If you close your oldest card, your length of credit history becomes shorter and this lowers your score.
If you open up new cards, it signals to the lender that you may need credit cards to pay your existing bills and this, in turn, lowers your score.”
Dorothy explained if you find yourself on the lower end of the report (or even on the higher end), there are steps you can take to improve your score. They include:
•Apply for and open new credit accounts only as needed. Don’t open accounts for the 15% store discount or for the purpose of more spending.
•Pay all your bills on time. Delinquent payments, even if only a few days late, and collections can have a major negative impact on your credit score. This applies to all your accounts, including utilities.
•If you have missed payments, get current and stay current. The longer you pay your bills on time after being late, the more your score should increase. Older credit problems count for less, so poor credit performance won’t haunt you forever.
•Pay off debt rather than shifting it from one credit card to another via balance transfers. The most effective way to increase your score in this area is by paying down your total revolving (credit card) debt.
•If you have had problems in the past, re-establish your credit history by opening new accounts responsibly and paying them on time.
•Manage credit cards responsibly by keeping balances well under the credit limit – target to use no more than 50% of your available credit lines.
•Don’t close unused credit cards as a short-term strategy to raise your score. Because the scoring model looks at length of credit history, it helps to have established accounts that have been open and managed well for a period of time (5+ years).
•If you have been using credit for only a short time, don’t open a lot of new accounts too quickly, as rapid account build-up can look risky to a lender.
Barrick says that a little planning and homework can help raise your score and put you in a better credit category, when you apply for future loans.
GreenPath University as a resource
Improve your credit score
To read the entire list of ways to improve your credit score, log-on to GreenPath University, here.
Credit and loans
For an in-depth look at credit and loans, log-on to GreenPath University, here.
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