3 Secrets To Better Credit So You Can Buy and Sell A Home In The Eugene Area




3 Secrets To Better Your Credit
Video Transcription

Three Secrets to Improving Your Credit.


Did you know that 35% of your credit score is from payment history alone? What is secret number one? Pay on time. Hi, I’m Genevieve Partsch with CTD Realty.

Now, let’s get into secret number two. 30% of your credit score is based upon capacity of credit. For example, if you have a credit limit with a $5,000 balance, you want to use 30% capacity of that card, meaning you only want to use $1,500 of that credit and keep $3,500 as unused. Here’s a tip. If you have one credit card with a $10,000 balance and another one with a much lower balance, transfer some of that debt from one card to the other card, so the capacity you use is about 30% or as close as possible.

Lastly, secret number three. 10% of your credit score is based upon inquiries and past applications, so keep that in mind. An entire 75% of your total credit score is based upon payment history, capacity of credit used, and inquiries. Be extremely mindful of this and that alone will dramatically maximize your credit score. This will help you qualify for a better interest rate.

For more detailed information on how credit mistakes can damage your FICO score, click the link below and I’ll give you some of the estimates on the number of points your score can drop by the type of mistakes you make.

Call Genevieve Partsch For Any Questions On How I Can Help


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