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The word is out! It's getting harder to get consumer credit! It doesn't matter who you are - blue collar, middle class or wealthy - unless your credit score is good, you'll be offered less to borrow or refused credit altogether.

If the world is going to get harder, you need credit management. The first step is to make a free credit check. Reading through your credit history gives you the chance to correct any mistakes.

Then there are all the problems of identity fraud. If you monitor your transactions, you can pick up unauthorized sales before they become a problem. Making a credit check is absolutely free.

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	This is not the time to sit back
	Should you pay for credit check services?
	How can you improve your credit score?

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How can you improve your credit score?

So you paid out a few dollars and got a guideline credit score. It was not good. You checked out your free credit reports and put right all the mistakes you found. Your score improved a little but it's still too low to give you access to the low interest rates that would make your borrowing more affordable. What can you do? To answer that question you first have to understand what causes your score to go down. Mostly it's a history of late payments. Even one late payment can mark you a "delinquent" and drop your score by fifty and more points. Although with the problems in the mortgage market, more people now have the repossession of cars and other assets on their records, followed by a growing number with property foreclosures. Some find the IRS takes action to recover unpaid taxes, or there are court actions to recover other debts. These rather sad events are a matter of public record and you cannot prevent them from impacting your credit history. One other thing to beware: applying for new credit facilities increases your credit risk score. The more accounts you have, the greater the risk you might suddenly max out all your cards and disappear (yes, some people do that).

The way to recover relies on patience. If you now act within all the rules on repayments, slow and steady wins the race. How long? Well, records of "delinquency" usually stay on your credit file for seven years. Not encouraging, is it! But you have to start paying off what you owe. You gain nothing by moving the debt between several cards, your bank overdraft, etc. Aim to keep the amounts owing on all the cards as low as possible, i.e. a low debt-to-income ratio. Do not close out cards when you get them close to zero. You never know what emergencies may come along and some slack in the system is good for you. The point of this exercise is to improve the way in which you handle your credit. The more responsibly you act, the better your score.

Responsibility means contacting your creditors if you have problems. Perhaps you have fallen sick or lose your job. Whatever the reason, the earlier you notify the creditors and discuss strategies for protecting their interests, the better the comments on your credit file. Finally, an irony. You're looking to improve your record of handling debt. That means you have to have debts to build up the necessary record of responsible credit management. It's not in your interests to pay off all your debts if you want to improve your credit score. In fact, you should always use older cards every now and again. Better still, ask card issuers to increase your credit limits.