Ten Tips to Improve Your Credit Score
If you are going to be buying a house at some point, having a good credit score is critical. The sooner you start looking at your financial situation the better. All too often I have buyers contact me that they are “ready to buy” only to find out that their credit score is no where near ready.
If you are even thinking a buying a home in the near future, I suggest that you talk to a REALTOR® and a mortgage officer to best determine what you should do to prepare for buying a home.
Here are ten tips to help improve your credit score:
- Apply for and open new credit accounts only as needed.
- Don’t close unused credit cards as a strategy for raising your credit score.
- If you are trying to build credit, don’t open lots of new account too rapidly.
- Pay off debt rather than moving it around.
- Try to keep balances low on credit cards revolving credit.
- Pay your bills on time! Payment history contributes 35% of your credit score.
- Reduce your debt load. Come up with a plan to chip away at debt.
- Dispute errors. An error on your report can cost you valuable points.
- If you have missed payments, get current and stay current!
- Check your credit report regularly.
If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR® – who can give you the information you need to make an informed decision.
As always, if I can help with any of your real estate needs, please don’t hesitate to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com.