Amazing service and knowledge! We have never been happier with any other realtor. She was always there with answers, no matter what the situation was. Paige made us feel very happy with our purchase and we can't wait to work with her again!

- Ryan and Christina McKenzie

 

You are here: Removing the Mystery from Credit Bureaus!

Removing the Mystery from Credit Bureaus!

Although banks still love real estate as security for lending money… the rules are becoming more strict.  Your credit rating or “beacon score” is the ever important item that needs to be strong and in your favor. The following is a breakdown of how this score is made up.  Improving your credit, for instance by transferring outstanding balances to other accounts thus bringing the overall balance to limit percentage down, is easy when you keep this breakdown in mind.
 

Simple steps to improve your credit…..

  • 35% Your payment history Pay your bills on time. Automating payments online can help.
  • 30% How much you owe Keep balances on credit cards and other revolving accounts below 50% of your credit limit (lower is better).
  • 15% Length of your credit history Rather than let old cards go dormant, charge a latte a month (then pay it off). No activity lowers your score.
  • 10% Your new credit Don't open unnecessary new accounts. And if you're rate shopping for a mortgage or an auto loan, do it within two weeks; multiple requests could ding your score.
  • 10% Your mix of loans You can't do much to change this (except get a credit card if you don't have one).