3 Secrets to Maximize your Credits

3 Secrets to Maximize your Credits

3 Secrets to Maximize your Credits

3 Secrets: 

Thirty-Five Percent of your credit score is from your Payment History. Secret  #1. Pay on time Now let’s get into Secret #2 Thirty Percent of your credit score is based upon the Capacity of credit. For example, if you have a credit limit of $5,000 you only want to use 30% of the capacity of that card.  Meaning, you only want to use $1,500 of credit and keep $3,500 that is unused. So here’s a tip, if you have one credit card with a $10,000 balance and another with a much lower balance, transfer some of the debt from one credit card to the other so that the capacity used is as close to 30% as possible.  Secret # 3 is that 10% Of your credit score is based on Inquiries and Past Applications, so keep in mind that 75% of your Total credit score is based upon Payment History, Capacity of Credit Used, Inquiries and Past Applications. So you want to be VERY mindful of that. So pay your bills on time, be sure not to max out your cards, keep a 30% balance or lower and don’t get too many inquiries and that alone will help dramatically maximize your credit score.  For more detailed information about how to maximize your credit so that you can save money and get better interest rates, reach out to me at any time or click to link below to get a detailed 17-page report. Thanks again and as always make it a great home buying and selling day.

 

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