Improving your Credit Score

How can you improve your credit score?

There are a number of very real ways to improve your credit score. Most involve things you should not do.

• Each time someone checks your credit your score is lowered. So if you want your score to improve you need to stop applying for credit cards or loans of any kind until your score improves.

• If your credit is checked a lot in a short period of time, it will lower your score even more. Equifax, the credit reporting agency will view you as a credit seeker and penalize your score.

• Another credit score killer is having credit card balances close to the limit on the card. You really need to keep the usage below 70-75% of the limit. If you have had a loan or credit card only for a short period of time, this will also temporarily lower your score.

• Also, to improve your overall credit score you need to always make at least your minimum payments on each credit on time and never go over 30 days before paying.

• Additionally, don’t apply for unnecessary credit cards and use a mortgage agent when applying for a mortgage rather than going to 3-4 banks to find out what they will offer you. (They each will check your score.)

• If you have any collections that have been filed against you or if you have declared bankruptcy or have been in credit counseling you will need additional advice to improve your score. But it CAN be done by following a simple plan that involves obtain credit and using it wisely over a period of time.

If you have credit problems, feel free to sign up for our free credit repair program by filling out this form:

Sometimes we run into applicants that either don’t have any credit, or haven’t re-established any good credit after a period of missed payments or a bankruptcy. It is important that you have active credit, but sometimes is very hard to get started.

The Home Trust Visa card is a secured credit card that you are almost guaranteed to be approved for.  Click Here for more information and to apply.

If you want to prepare to get a mortgage, contact your mortgage professional so they can review your credit thoroughly and offer ways to prepare your application for mortgage lender acceptance.