Your credit score may be affected...
Thursday, April 28, 2011
Heidi Hines a local real estate expert in Charlotte, NC says that credit scores are affecting more parts of our life than ever before. Scores range from 200 – 800 and your score can be the deciding factor when you are attempting to secure a mortgage, purchase a car, obtain insurance, rent an apartment or house and even in some cases, applying for a job.
“It is critical in today’s society to maintain a good credit score”, says Heidi Hines “and that is why I am doing my part to make sure people realize how certain decisions can affect their credit scores.”
The following factors can affect your score:
- The length of your credit history – Usually, the longer you’ve had accounts opened, the better. Older accounts without interruption usually indicate an acceptable re-payment history. If you are deciding to do away with credit cards, you may wish to keep the one with the longest history.
- Your payment history – Did you pay on time? If not, how late? Bankruptcy filing, liens and collection activity will all affect your score.
- How much do you owe – If you owe more than 50% of allowable credit on several cards, this may place you in a riskier category and indicate you may be on the route to being overextended.
- How much credit you have – New credit, either installment payments or new credit cards, are considered more risky even if you are paying them on time. Only keep the credit lines that you need.
- The types of credit you use – Don’t keep too many, but do keep a portfolio of variation, for example: installment loans, credit cards and mortgage.
Pay on time, pay more than the required payment, do not max out your available credit and keep only what you need. In addition, it is advisable to check your credit reports several times during the year for mistakes that may cause your credit score to be less than what you deserve.
And here are my top picks for the week...
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139 Morrows Ridge Road
COMMUNITY OPEN HOUSE Sunday, May 1st 1:00 - 4:00 pm Visit all the open homes for your chance to win a gas card! Striking four bedroom, two and a half bathroom home located in the waterfront community of The Harbour at The Pointe. The two-story foyer...
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102 Aurora Lane
Pristine three bedroom, two full bathroom ranch style home located on a wooded lot in the subdivision of Shepherds Vineyard. The welcoming foyer invites you into this home offering hardwood flooring, a side light in the door and a decorative chandel...
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12335 Carrigan Court
Attractive two bedroom, one and a half bathroom townhouse located in the subdivision of Vermillion. The powder room offers a pedestal sink and two-tone fixtures. The inviting living room, approximately 18' x 18', offers crown molding, laminate wood-...
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19219 Dutch Iris Lane
Charming four bedroom, two and a half bathroom home located in the subdivision of Magnolia Estates. The dramatic foyer showcases the open staircase and features hardwood flooring, palladium window, a decorative plant ledge, side lights in the door a...
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11033 Fountain Grove Drive
Immaculate all brick five bedroom, four and a half bathroom home with a bonus room located in the beautiful Fountaingrove community. The inviting two-story foyer welcomes you into this home offering hardwood flooring, a palladium window, crown moldi...
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6132 Hidden Meadow Lane
Pristine three bedroom, two and a half bath, two story home located in the desirable neighborhood of Highland Creek offering stunning curb appeal with professional landscaping and a well manicured lawn. Enjoy the many amenities that surround you in ...
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10653 Hill Point Court
Top level two bedroom, two full bathroom condo located in Hyde Park in the University Area. Enter through the welcoming foyer offering Pergo flooring and a coat closet for your convenience. The open great room offers a vaulted ceiling, a ceiling fan...
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10011 Montrose Drive
Stunning four bedroom, three full bathroom home located in the sought after swim and golf community of Highland Creek. The welcoming two-story foyer invites you into this home offering hardwood flooring, a palladium window, a plant ledge, side light...
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3416 Passour Ridge Lane
Fabulous three bedroom, two and a half bathroom home located on a cul-de-sac street in the subdivision of Cresthill. The inviting two-story foyer welcomes you with hardwood flooring, chair railing, picture frame molding and a decorative chandelier. ...
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7415 Tarland Lane
Pristine five bedroom, three and a half bath home with a finished basement located in the popular subdivision of Highland Creek. Enter this home through the two-story foyer that features crown molding, palladium window, side lights in the door, chan...
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