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 209-259-0059
Author:Julie Cosgrove BRE #00828743 Phone: 209-298-0252 Dated: August 5th 2015 Views: 310 About Julie: Julie was born and raised in Stockton CA, she married her high school sweetheart George and has 2 bo...
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About Julie Cosgrove Real Estate Professionals at Keller Williams Realty
California REALTOR® Julie Cosgrove is a driven individual that not only pushes herself to achieve excellence but will make it her priority to transform her client’s dream home into a reality. She and her team believe in Exceeding Expectations of their clients
Julie and her team’s positive approach and no nonsense attitude will help guide their client’s through their transaction. They will outline the buying and selling process, stay in close contact and constantly affirm that they have their clients best interest at heart. She and her team strive for trust, coupled with support, so her clients can enjoy a smooth transaction.
Recently Julie started her sister company, One Simple SOLUTION. As Julie’s real estate business grew, she saw a need to help seniors downsize or transition into senior-centered living. The desire of this company is to make our Senior Citizens and families feel as calm and stress free as possible during their transition from one home to the next. One Simple Solutions works hand in hand with each realtor to make sure that their clients is completely taken care of from the packing stages to the complete move to their new location. No stone is left unturned. We offer organization, helpful tips and more to make this move as uncomplicated as possible.
It's that time of year, fall is in the air. Time to change your clocks
"We have bought and sold homes with Julie, one of which was a short sale. She has always been very professional and accommodating to our needs, whether is be coming out on the weekends or getting loan documentation to us at 9pm on a weekday. My wife and I currently live in our dream home, we would recommend Julie to any of our friends and/or family."