No matter how many articles I write on credit
and credit scores, I get this question over and over.
and credit scores, I get this question over and over.
Make your payments on time!
This is the single most important thing you can do to keep your credit scores high. There is no easy fix to late payments - it takes time for your credit scores to rebound after late payments.
What else can you do?
There are a few other things you can do to maximize your credit scores:
1) Keep your balances as low as possible in relation to your credit limits. The closer you are to being "maxed out" in your credit cards, the more it negatively impacts your credit.
2) Pay attention to your credit limits - going over your limits has an adverse effect on your scores
3) Limit the number of creditors you allow to check your credit - a lot of credit inquiries can decrease your credit scores.
When you decide to purchase a home or refinance your mortgage, contact me early. It is important to check your credit up front so we can correct any errors on your credit report or work on any credit issues early - it is better to deal with these issues sooner rather than later.
Please feel free to contact me at BarkerLoans@gmail.com with questions regarding your credit or when you are ready to apply for a mortgage.
