U.S. consumers less of a credit risk

TransUnion, one of the nation's largest credit reporting companies, announced this week its Credit Risk Index declined for the fourth consecutive quarter as overall consumer credit continued to improve.

In total, 49 states and the District of Columbia saw their CRI's improve. However, many consumers are still struggling with questionable credit report listings and may need to fix their credit.

The report found more consumers were switching to debit and credit cards and avoiding opening up new checking accounts. TransUnion also said many consumers are still reluctant to apply for additional financial services. This may be because some have experienced loan denials and other negative effects of having a low credit score and a bad credit report.

This may be a sign that some consumers could use credit score help, as denial of credit is one of the main reasons consumers switch to alternative payment types.

Consumers who want to improve their credit should contact their local credit repair company and speak with a professional. Working with a credit lawyer can help consumers can learn simple steps to improve their financial situation.