4 Ways to Improve Your Credit

Welcome back! For the past few videos I’ve been telling you everything you CAN’T do, but now I have a list of different things you can do to improve your credit.

•    Join a credit program. It may have a slight cost, but these programs alert you when there are any unauthorized uses on your card. Stop any damage before it starts.

•    Make your payments on time. One missed car or mortgage payment can terminate the loan process immediately.

•    Use your credit normally. Continue to use your card and pay on time as normal, just don’t overcharge.

•    Keep in contact with loan originator. If you receive a collection letter or anything that you think may affect your credit, notify your lender immediately.

If you have any questions about how to improve your credit, give me a call. Thanks for watching!

More Credit Don'ts

Welcome back to my video bog! Last time I talked about things to avoid when you are applying for a mortgage. Well, I have a few more tips for you!

The first is do not go out and make new purchases. Just last week I had a couple that was all set for their loan. Then they cosigned for a relative’s car purchase. Because of that new $425 monthly payment, they were no longer approved for their loan. So, please do not go out and purchase a car, furniture or cosign for anyone!

Secondly, do not consolidate your credit cards. Some people think if they close their cards and consolidate to one payment their credit will be better. In reality, though, when you close a credit card, you lose all your credit history.

Thirdly, do not max out or overcharge your credit accounts. These two things can damage your credit by as much as 100 points. Plus, it can take months to untangle.

If you have any more questions about applying for a mortgage, please give me call! Thank you for watching!