March is National Credit Repair Month

Thinking about purchasing a home? Your credit score needs to be up to par to qualify for that mortgage. Here are some tips to help improve that score.

5 tips to raise your credit score

Pay your bills on time. This is the most important factor in calculating your credit score, so make sure you pay all bills on time each month.
Pay down your debt. Reducing the amount of debt you owe can help improve your credit score. Try to pay off as much debt as possible before applying for a loan or credit line.
Keep your credit utilization low. Your credit utilization ratio is the amount of credit you are using compared to the amount of credit available to you. Try to keep this ratio as low as possible.
Don't open too many new accounts. Applying for too many new lines of credit can have a negative impact on your credit score. Try to limit new applications to only when necessary.
Monitor your credit reports regularly. Make sure to check your credit reports at least once a year to ensure that all of the information is accurate and up-to-date. If you find any errors, contact the credit bureaus to have them corrected.

For all your real estate needs, contact Carolyn McGuire at 718-644-8460