You're reading...
Market News and Trends, The Business of Real Estate

Don’t unintentionally hurt your credit score


Here is a short but important article from RISMedia today:

3 Common Misconceptions That Needlessly Lower Credit Scores

Mortgage professionals counsel their clients about many pros and cons of managing credit from preapproval to closing, and most provide good advice to prospective borrowers whose FICO scores are too low to qualify for a loan.  Commonly, “don’t open new credit lines” features prominently on everybody’s lists, and more than once I have told my clients — not facetiously — that I do not want a call from them a week before closing inviting me to come see their new car.  ARRRGGGHHH!

The RISMedia article correctly points out that there are other mistakes people make that seem to make perfect sense, but that will lower their credit scores.  This is VERY important information.

Of course, increasing your FICO score may not be your only objective, and you can get different advice from different advisors about how to get out of debt as efficiently as possible.  If increasing or maintaining your credit score is your top priority, though, you MUST read that article.

About Bill Morris, Realtor

Many years of business experience (high tech, client service, business organization and start-up, including 18 years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs. Learn more about my background and experience, my commitment to my clients, my profession, and to the real estate industry at CentralTexasHomeSearch.com.

Discussion

2 thoughts on “Don’t unintentionally hurt your credit score

  1. I just want to tell you that I am new to blogging and site-building and really loved you’re page. More than likely I’m going to bookmark your site . You surely come with beneficial well written articles. Kudos for sharing with us your website page.

    Posted by Cleopatra Dinehart | February 10, 2011, 6:33 PM

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: