Credit Score Tips

Hey, maybe your credit score isn’t as high as you’d like it to be – but you’re reading this article, aren’t you? That’s a good start. As you probably know, improving your credit score before you apply for a mortgage is a really good idea: rates are heavily based on your FICO score, meaning that a higher score will save you money on your loan.

Here are some tips to getting your credit score up to snuff. Do be aware that credit improvement, like red wine, takes some time to pay off. Patience is a virtue when you’re dealing with improving your credit score.

4 Credit Improvement Tips

1) Prevention is quicker than the cure: Improving your FICO Score by establishing a good record of on-time payments takes time, but a bankruptcy or multiple late payments can lower your FICO Score rapidly.

2) Uncle Sam has a long memory: Most hits to your credit – like late payments and accounts sent to collections – will be removed from your credit report seven years after the fact. But money owed to or guaranteed by the government – such as taxes or student loans – stays on your report indefinitely, or until seven years from the date your balance is paid off.

3) You can’t erase your mistakes: If you’ve had trouble with an account in the past – like late or skipped payments – closing the account won’t remove it from your credit report until its seven years are up, even if you’ve paid off the balance.

4) Buyers beware: Be on the lookout for tempting credit repair scams. In many cases, anything a credit repair agency can legally do for you, you can do for yourself at little-to- no cost – if it sounds too good to be true, it probably is.

This blog post is an excerpt from Sindeo’s free credit improvement guide, “Credit Counts: How Better Credit Can Help you Score a Better Mortgage.”

Click here to download their free credit improvement guide!


Climb Real Estate provides this information to the public and our clients and does not guarantee its accuracy. Climb Real Estate does not necessarily represent the seller nor the marketing company in any way. For buyer representation, contact Climb or learn how to buy new developments.




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  • June 22, 2016
  • Graham Carlson
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