How to Improve a TransUnion Score

TransUnion is one of the three major consumer-reporting agencies. These companies keep a record of how well you manage your finances, including the types of credit you've used, your outstanding balances, and payment history. TransUnion has its own method of calculating your credit score, which can range from 150 to 934. According to the TransUnion website, if your credit score is above 700, your credit score is good. But if it's under 650, there's room for improvement.

Instructions

Boost Your TransUnion Score

1

Keep on top of your bill payments. The Consumer Federation of America and Fair Isaac Corp. note that your payment history accounts for a hefty 35 percent of your TransUnion score. If you're late making payments to creditors or if you skip payments, you can drag down your TransUnion score.

2

Keep a low balance on credit cards. Your debt-to-income ratio can significantly influence your TransUnion credit score. This ratio is given a weight of 30 percent. The National Foundation of Credit Counseling urges you to never charge more than 30 percent of your available limit on credit cards.

3

Apply for new credit only when you really need it, advises the CFA and Fair Isaac. New credit lines can weigh against your credit score, particularly if you apply for new ones frequently. (The number of times you seek or acquire new credit is given a weight of 10 percent.)

4

Examine your TransUnion credit report for inaccuracies. If you notice legitimate errors or inaccuracies on your report, immediately contact TransUnion and the creditor to rectify them. Although TransUnion has an online dispute form, the FTC advises contacting the agency in writing and sending correspondence by certified mail, with return receipt requested, to ensure your letter is received. TransUnion can be reached at: 2 Baldwin Place; P.O. Box 2000; Chester, PA 19022; (800) 888-4213.