“Consumers should approach the New Year as a time to start fresh and begin managing their credit more closely,” said Lucy Duni, vice president of consumer education at TrueCredit.com by TransUnion. “While it can be overwhelming, now more than ever, consumers need to play a more active role in their financial management to ensure they are in the best possible position with lenders.”

TrueCredit.com is helping consumers stick to their credit resolutions in 2009 by providing a list of tips to keep them on the right track: 

1. Always pay your bills on time. While it may sound like a no-brainer, making payments on time is essential whether consumers are trying to boost or maintain their credit score. Yet, TrueCredit’s 2007 survey revealed that one in four (25 percent) respondents had missed making one or more on-time bill payments.
   
   
2. Don’t overspend: keep debt below 35 percent of your limits. Although it can be tempting and easy to overspend, it’s important for consumers to keep their credit card balances low and not to max them out. Part of a lender’s evaluation includes reviewing a consumer’s available credit. If consumers are nearing or have over-extended their credit, it may impact their ability to be approved for a loan at a competitive rate.
   
   
3. Keep tabs on your credit report. In order to maintain a “healthy” credit score and to position yourself best with creditors, it’s important for consumers to monitor their report regularly to provide an up-to-date view on credit card activity and debt. It also enables consumers to identity possible signs of fraudulent activity, as the potential for identity theft remains significant.
   
   
4. Monitor leases and loans closely where you are the co-signer. When consumers open a joint account or co-sign a loan, they are taking on legal responsibility for the account. Any activity on these shared accounts, good or bad, will be reflected in both credit reports.
   
   
5. Long-standing credit card accounts can help your credit score. Consumers should be cautious when thinking about closing credit card accounts where they have been making punctual payments over a long period of time. In addition to lowering your available credit, canceling old credit accounts can also ultimately lower your credit score by making your credit history appear shorter.