There are margaritas for EVERY occasion! A margarita can come in a variety of flavors, use a handful of different liqueurs (besides the tequila), and make it sweet or spicy! It’s all up to you! On
Fixing Your Credit
Credit scores are a huge part of getting a loan for a home. Better credit score typically result in better APR, saving you money on your mortgage. For this reason, it is important to fix your credit score before getting a home. It will save you financial hardship in the future.
Credit cards themselves are a great way to improve your credit score, but you must use them responsively. Do not use your credit card for every purchase. Typically, your credit card charges should equal 30 percent of your credit limit. Ideally, just 10 percent of your credit limit should be used each month. For example, if your credit limit is $5,000, you should use just $1,500 of it each month. Ideally, you should use $500 of your credit limit. Avoid closing credit cards at all costs. Closing credit cards sends red flags to lenders.
Speak with Your Lender
Sometimes, it helps to speak with your lender. If you have a good credit history, but your credit score is harmed by a time of hardship, such as unemployment or divorce, you can speak with your lender and get a “good-will adjustment.” Essentially, your period of hardship and the resulting financial instability will be waived by your lender. This really only works if you had a good credit history before the time of hardship. In addition, lenders are not perfect. They may have made a mistake with your credit score. You can challenge a credit error with services like TransUnion, Equifax and Experian.
Becoming an Authorized User on Another Account
You could also consider adding yourself to another person’s credit card account, becoming an authorized user, to raise your credit score. Make sure you become an authorized user with someone you trust, preferably a relative or a close friend. Before becoming an authorized user on another account, make sure you come to an agreement with the account owner. Make sure bills for the account are paid on time and in full. At the same time, live up to your end of the agreement and pay your share of the bill.
Having a higher credit limit typically translates to a higher credit score, but you be careful. Do not increase your spending once your credit score increases. If you still spend the same percentage of your credit limit, you will not be doing yourself any favors. If you raise your credit limit, you must do everything in your power to not increase your spending. Make sure it is a slight increase if anything.
Pay your bills on time. This cannot be stressed enough. Payment timeliness accounts for an astounding 35 percent of your FICO score. If you are worried you will miss your bills, set up a payment plan. That said, if you choose to set up a payment plan, make sure the money to cover the bill exists in your account. It may also be a good idea to make contributions to your credit card bill twice a month. This will help lower the balance on the account, something lenders like to see.
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