Tag: credit score

Tips for Managing Credit

Credit doesn’t build or fix itself, is the first lesson everyone should learn when examining their credit scores. Be proactive when building credit, there are things you can do to create a good credit history.

  • Get a credit card. This is the easiest way to start building credit, but many people find the action of using a credit card to be a bit terrifying. The best way to start using a credit card is as if it is your debit card. Start by using it to make your usual purchases and pay it off in full each month. Do not look at it as “credit”.
  • Don’t open too many accounts. Using one credit card to slowly build credit will have the most positive impact on your score, having a lot of accounts generally leads to issues. Your score is more based on length of credit card history, not the number of accounts you have open!
  • Check your credit report. You don’t need to check it everyday but being regularly aware of your score is important, so if an error does come up on your credit report you can report, dispute, and fix it right away.

A good credit score can help you accomplish a lot of your goals, like taking out a mortgage (when the time is right!) and getting you the best interest rate possible when you do. Building good credit is a marathon not a sprint, so take your next step towards good credit today!

Don't let your credit score decide your life!


Millennials are the next wave of home buyers, but many feel becoming a homeowner has become more challenging for young people, but your first home is closer than you think! Here are some tips to help millennials (and any potential home buyers!) prepare to purchase your first home.

  • Consistent Employment: Lending companies not only want to see you are employed at the time of a mortgage application, but that you have been employed in the same industry for at least 2 years. If you have moved around every few months, especially within very different fields, it may cause problems in getting your loan request approved.
  • Learn about Mortgage Payments; When trying out a mortgage calculator online many people think they can afford a certain amount. It is important to understand that a mortgage doesn’t solely consist of principal and interest. There is homeowners and other types of insurance payments that need to be factored in. Some communities have homeowners association fees you as a homeowner will be responsible for. Real estate taxes need to be paid as well. All these factors need to be considered when budgeting to buy a home.
  • Watch Your Credit Score: There is a reason everyone tells you to check your credit score and to do things to “build good credit”. Credit is important, and one of the most important factors in getting a good interest rate on your mortgage or even being approved for a loan at all.

Owning a home is a big responsibility, but one that is possible if you prepare and understand the process. It is a big decision, but if the time is right and you found an area you want to live in for some time, it’s often smarter than renting month after month because you can build equity. Owning a home is generally a long term investment, but one well worth it! Your realtor is also a great resource for helping answer questions on the process!