5 Hacks for a PERFECT 850 Credit Score
Number 1… 35% of your credit score is determined by your payment history. Setting up auto payments can ensure that you are always on time and never miss a payment.. even when life gets busy.
Number 2.. A large portion of your credit score is determined by your outstanding debt. A rule of thumb is to keep your balances at or below 30% of what is available to you
Number 3… Credit Length positively impacts your credit score. So the longer your history is of being a responsible account holder the better off you’ll be. On average it is good to have 7 years or more!
Number 4.. Having a good variety of accounts can help bring up your score. Such as having a credit card, auto loan, and a mortgage account. Just make your you stay on top of your payments
Lastly Number 5… Avoid a lot of hard inquiries in a short amount of time. When shopping for a mortgage, credit inquiries made in the past 30 days are all considered one inquiry. Allowing you as the buyer to shop for a mortgage without damaging your score.
If you need advice on how to bring your credit score up before taking out a mortgage… contact me today!!