How Do I read this

[tommypic]

Newbie here and I have to say this is a GREAT site . I want to get my credit back up . I use to could just get what I wanted but with todays economy its not that easy if you don't have a good credit score . I was wanting to know how to read this
TRANS UNION/FICO CLASSIC (98) -
SCORE: 548
039 - SERIOUS DELINQUENCY
013 - TIME SINCE DELINQUENCY IS TOO RECENT OR UNKNOWN
010 - PROPORTION OF BALANCES TO CREDIT LIMITS IS TOO HIGH ON BANK REVOLVING OR OTHER REVOLVING
ACCOUNTS
018 - NUMBER OF ACCOUNTS WITH DELINQUENCY
EXPERIAN/FAIR, ISAAC (VER. 2) -
SCORE: 565
39 - SERIOUS DELINQUENCY
10 - PROPORTION OF BALANCE TO HIGH CREDIT ON BANK REVOLVING OR ALL REVOLVING ACCOUNTS
13 - TIME SINCE DELINQUENCY IS TOO RECENT OR UNKNOWN
21 - AMOUNT PAST DUE ON ACCOUNTS
this is from my credit report that a lender just pulled . I want to borrow on my equity house is paid for but credit not so good . Hope someone can help . I can post what I owe and see what can be done with that too

[Lian]

Those appear to be standard comments used to "assist" consumers in understanding factors in their credit reports. They are often either very broad or downright contradictory.
You need to go to the details under each account to identify each item, and evaluate its specific impact.
You appear to have delinquencies and a high % util of revolving credit, both of which have negative FICO scoring impact.
What specific delinquencies are reported, what are their severity, and how old are they?
What is your current balance and credit limit on each revolving account?
That is what they are telling you to focus improvement on.