Finances Tips For Building Credit

Finances Tips For Building Credit

Why is credit so important? It allows us to purchase necessities in our lives such as cars for transportation and homes for our families. The better our credit the more affordable these necessities become. Whether you have good credit, bad credit or no credit at all, below are some tips that you might be able to utilize to build or maintain your credit.

  • Credit Score - Start out by checking your credit score to see what your current rating is. You should check your credit score at least once a year because just like our life changes, our credit score changes, as well.

  • Pay down your credit card balance - Keeping your credit card balance low shows that you are not living off of credit. Keep your credit card balance low and if at all possible, try to carry no balance at all. A credit card is a tool that you can control (you control how much you use it and how much of the balance you pay) so use it wisely.

  • Keep your credit utilization low - Credit utilization is how much of your credit limit you are using. This item relates to keeping your credit card balance down. It is often recommended that your credit utilization should be at 30%.

  • Pay your bills on time - This shows that you pay your debt and that you are responsible for the debt you incur. Having late payments and bills that go into collections will reflect negatively on your credit score so make sure that you are making your payments on-time.

  • Remember that building credit takes time. A credit score is a reflection of past activities over time. The best way to ensure that you are building/maintaining a good credit rating is by showing that you can consistently pay your bills on time. Have patience with your credit score and over-time, it will improve.

    Thank you Blake Eagal for this great information!

    If you need more information on your credit score please don't hesitate to get in touch with Blake or me!

    Blake Eagal
    Loan Consultant
    NMLS ID# 250496 
    BRE ID# 1878279
    3031 W March Lane Suite 117S
    Stockton, CA 95219
    Branch NMLS ID# 287185


    Julie Cosgrove BRE #00828743 Headshot
    Phone: 209-298-0252
    Dated: August 5th 2015
    Views: 353
    About Julie: Julie was born and raised in Stockton CA, she married her high school sweetheart George and has 2 bo...

    Property Search

    RSS Feed

    View our latest blog posts in your RSS reader. Click here to access. RSS

    Search Blog

    Recent Blogs

    Jun 8 2019 10556 1 - 515 E. Benjamin Holt Drive,
    Mar 29 2019 10556 1 - PRICE IMPROVEMENT!Open House
    Mar 15 2019 10556 1 - LAKEFRONT CONDO Open House Sat. 3
    Mar 7 2019 - Open House in Stockton! 🏡

    Saved Properties

    This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

    Click 'Save' to add a property to this list.

    Register / Login

    New & returning visitors please enter your information to login.

    By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

    Questions? Comments? Complaints?

    This message will go directly to the head of our team.

    Location & Address

    Julie Cosgrove Real Estate Professionals at Keller Williams Realty
    3133 W. March Lane Suite 1060
    Stockton, CA
    (209) 207-5605