markets, jobs and credit histories

I saw today that commodity prices were down (gas, steel) -- good news for consumers. But it also means that industry is using less of these things. In some industries, the cutting back may mean job losses. For instance, I also heard that here in Wyoming the gas companies are doing less investing. Thay may not mean job losses -- perhaps it just means fewer new jobs. In any case, no matter our job situation we have to deal with building strong credit. And a strong credit report is an excellent thing to have should things tighten up. Here are a few insights on indications of strong and weak credit.

Indications of a solid credit history:
• Some, but not extensive borrowing.
• Prompt payment of monthly bills.
• Paying down balances over time.
• Steady employment.

Items that can hurt your credit report:
• Filing for bankruptcy.
• Too many credit cards.
• Too many applications for credit.
• Late payments.
• Increasing credit card balances.
• Several credit cards with balances close to their limits.