Relationships And Credit Scores Are Very Similar

When you stop and think about it Relationships And Credit Scores Are Very Similar.  Relationships and Credit Scores tend to follow a very close pattern.

Just think what happens when you start dating.  Both parties are very polite to each other, and as the relationship develops both begin to feel more comfortable with each other.  But one wrong move and the relationship can end badly very quickly.  Show up late for a date, or forget a special occasion, and see what happens.  I promise you it will not have a good result.

Same thing with Credit Scores.  When you start out trying to obtain credit, you are very careful to make sure you make every payment on time, and to not over charge on credit cards.  But as you feel more and more comfortable with the credit cards, you start using them more, and may become lax in making payments promptly on their due date.  Eventually you miss a payment and your Credit Scores begin to go in the wrong direction.

Much about dating and developing a relationship has to do with timing.  If you are not ready to be involved in a relationship and make the necessary commitment, the relationship will have a very hard time developing, and may even fail before it starts.

Same with establishing credit and Credit Scores.  If you are not ready to make the commitment, or have the income to make the required payments, not only will the relationship with creditors come to an end, your Credit Scores will suffer as well.

In a relationship you don't want to be known as someone who can't be trusted and cheats their partner.  You want to be someone others want to be with, and envied by others. The same is true with credit, you what to have the Credit Scores everyone else wished they had, and someone who creditors want to extend credit to.

Don't build a negative reputation for yourself, it will follow you throughout your financial, and personal life.  Relationships And Credit Scores Are Very Similar, one hurts someone’s feelings, the other destroys your credit.

 

 

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Info about the author:

George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com