With the new stricter guidelines for getting a home loan everyone needs to be reminded how to boost their credit scores. I recently went over these tips with a client and felt it was worth posting.
First thing, all those credit card offers you recieve in the mail, call and opt out! You can call 888-567-8688 and you will notice a decrese in these "junk mail" offers soon afterwards.
Always pay your bills before the due date! The easiest way I find to to this is to pay things online but be sure the it is a well established company and a secure connection before you give any of your personal information online. If you are comfortable with auto pay, this is a great option, but I prefer to set reminders for myself to pay a few days prior to the due dates. I set my reminders early just so if I get busy and put it of an extra day or two I am still not hitting my due dates.
Do not have your credit pulled unless completely necessary. If you apply for store credit anywhere, be sure it will count against your credit the more cards you have even if you do not carry balances. But, if you already have the cards, it is not a good idea to cancel them all either as that too can take points off your score. Try to keep it to no more than 5 or 6 times a year.
If you carry balances on your cards, try to keep the balances below 35% of your total credit limit.
There are lots of other things out there that you can do, but these are just a few to get you started in the right direction. If you have serious credit issues, it is a good idea to try Credit Counciling. It does cost you money up front but will help you turn your credit around to help you purchase that dream home you always wanted. Nothing makes us realtors happier than to have a buyer who has already been preapproved so we know what price range we can comfortably look at.