Everyone wants to raise their credit score. Here’s a simple, easy way to do it quickly.
Do you know the simple hack for improving your credit and getting a better rate on your mortgage? I do, and I’m going to share it with you today.
My preferred lender recently came to the office and showed me this very good trick for improving your credit, which translates to getting a better mortgage rate and a lower monthly payment. It’s very simple, and here’s how it works.
“This could bring your score up by 50 or 60 points.”
If you use a credit card, the balance on the card each month is going to be calculated by the FICO scoring model and will impact your credit. Particularly, the higher the balance is relative to your limit, the more it’s going to affect your credit.
You may be one of those people who pays their credit card off every month and that’s that. If so, this trick will be very easy for you to do. About three days before the end of your billing cycle, pay the balance online. Then at the end of your billing cycle, you’ll have a 0 balance. This could boost your credit score by 50 to 60 points alone. Try it out on your next credit card payment.
If you have any other questions about raising your credit or about real estate in general, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.