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8 Obvious & Not-So- Obvious Ways to Improve Credit

Excerpt from Realestatetaxi.com’s upcoming ebook. Check the products section in the upcoming weeks or subscribe to our mailing list for further information.

The game of credit! Very exciting! Just like every other games, there are rules to follow. The following are 8 ways to follow the rules of the game and come out on top. Our goal is to get you above 620 and beyond!

 

1.      You can never be too careful. Search for and correct any errors in your credit report. You could be paying for someone else’s poor financial management and not be aware of it.

 

2.      Pay your credit card balance MONTHLY. Other than establishing a credit history as soon a possible it’s vital that you don’t purchase things you know you aren’t going to be able to pay promptly for. Especially if you are looking to purchase something like, let’s say…..a HOME! If you can’t control yourself, transferring credit card debt from one card to another could lower your score. (also self-control will make it even lower)

 

3.      Don’t take it to the MAX! This quality might be good in other areas of your life but when it comes to credit cards, stay clear of this adage.

 

4.      Next year will come soon enough- If you had any credit problems its best wait a year before you try and get involved with a mortgage.

 

5.      Hold off on the flat screen until you get approved- don’t put anything on your credit cards until your loan is approved it will only further add to your debt!

 

6.      Travel light before you apply- I know signing up for credit cards at the next football game is fun to get that free t-shirt but unfortunately having too much available credit can lower your score. New credit, either installment payments or new credit cards, are considered more risky, owing a good sum of money on numerous accounts can indicate that you are overextended even if you pay promptly.

 

7.      Mortgage shop all at once- When shopping around for a loan its best to have multiple inquiries from the same kind of lender submitted over a SHORTER period of time rather than a longer span. When the inquiries are closer together they are counted as just one inquiry which will help protect your credit score.

 

8.      Just say NO to Finance Companies. Interest is usually high and it usually conveys poor credit management.

 

(If you follow these 8 Obvious & Not-So-Obvious Ways to improve your credit NOW you will never convey poor credit management. Remember every minute that goes by is another chance to turn it all around!)

 

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