As you probably know, having a high credit score is essential—especially for those looking to buy or sell. But how do you increase your score? We’ve got four tips to share with you today.
1. Make sure your payments are always on time. Punctuality is one of the greatest contributing factors to earning and maintaining a high score.
2. Try to reach at least 750—and then maintain that score. If 850 (the holy grail of credit scores) sounds like too lofty a goal, don’t worry. 750 is still an excellent score. Best of all, our team works with a number of local lenders who would be happy to guide you toward a better score for free.
Punctuality is one of the greatest contributing factors to earning and maintaining a high score.
3. Set up automatic payments. This will prevent you from making late payments. If you’re worried that this might cause you to overdraft, however, there’s no need to. You can also ask your bank about overdraft protection to avoid any unpleasant surprises.
4. Watch your credit limit. Experts say to get your debt below the 30% mark on every line of credit you have. This will give you a fair debt-to-income ratio and also make you more creditworthy. Getting your debt between 10% to 20% will put you in an even better position.
If you have any other questions, would like more information, or would like us to put you in contact with an experienced local lender, feel free to give us a call or send us an email. We look forward to hearing from you soon.
Megan Womack came to Front Door Realty with over 10 years of customer service experience. She thrives on making sure our clients come first, is the ultimate people person, and makes friends everywhere....