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CREDIT IS IMPORTANT
I have a presentation on Thursday morning to 20-25 business professionals about the importance of maintaining a very good credit score. Your credit score goes well beyond the mortgage rate world. Did you know that only 65% of America have a credit score above  650?  More importantly, only only 40% of America is above a 750, which is considered the new standard for Conventional Lending. Buying a Car and insuring the car are both influenced by your current score.  An excellent FICO score will have a good mix of Installment, Revolving and Mortgage history.  An important part of building and keeping a good credit score is keeping your balances on your revolving and installment accounts at around 30% of your credit limit.  Watching out for things like medical co-pays and deductibles that aren't paid quickly can turn into collections with very little warning. Unpaid utility bills for partial months when you move can also turn into collections if the billing is not sent to you in a timely manner. There can also be a time when paying an old collection might be the wrong thing to do at the moment. Sounds Crazy, I know, but there is a strategy involved. If ... more

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