Credit reports may be trickier than you think

Dear Heloise: There are two things I want to make you aware of pertaining to your credit report. It is always a good idea to close unused accounts, but if you close all those accounts, you actually could damage your credit rating (score) by lowering it. Almost any action you take in regard to your credit will have an impact on it. For instance, if you are shopping for a car or other product and go to different dealers to shop for the best deal, each time a dealer makes a credit inquiry, it could drop your credit score a few points. If you go to a lot of places, it could dramatically impact your credit score. Then, a couple of weeks later, if you make an application to purchase a new home (or other large purchase -- Heloise), you could have a lower credit score, which could affect your interest rate. Clif, via e-mail
Clif, you are right: Multiple inquiries from certain sources, especially in a short time period, might negatively impact your credit score -- even if it's to buy a car or television, or shop for credit cards. There are ways of shopping around without letting anybody make an inquiry about your credit. For instance, when you check your credit report (which should be done once a year) to make sure everything is current and correct, make a copy of it and carry it with you when planning to make any major purchase involving credit within the next year! This should suffice until you make your final decision, and then the company you choose would probably need to verify the credit information you had on hand.
There are so many variables in the calculation of a credit score that it is always a good idea to contact a credit consultant (someone who reviews credit daily, a lender or banking institution, etc.) with any questions.
Folks, your credit history and score really are your lifelong "permanent" record, so take care when using credit cards. Heloise
Dear Readers: If you care for an elderly family member and find that you spend some of the time in the waiting room of a hospital or doctor's office, be prepared and pack what I affectionately call my "daddy bag." This bag is packed with essentials like tissues, a book, playing cards, notepad and pen, snacks like trail mix, cheese crackers and hard candy, a bottle of water, a throw or sweater and sample toiletries -- all the items that help make you and the other person more comfortable during what many times is a long wait. Heloise
Dear Heloise: My pod coffee machine is great, but what I don't like is the packaging of the pods -- those bags take up too much room. My solution is to transfer the pods to an empty, tall potato-chip can. Then, I cut out the front of the bag and tape it to the can. Angele Hansel, Manchester, N.H.
Send a money-saving or timesaving hint to Heloise, P.O. Box 795000, San Antonio, TX 78279-5000, or you can fax it to (210) HELOISE or e-mail it to Heloise@Heloise.com.
King Features Syndicate