I get asked a lot about credit scores. But, most people do not even know what they are. So, a few credit score tips:
- 700 to 850 means you get the best interest rates;
- 550 to 699 means you are a higher risk;
- Under 549 and you are going to have an extremely difficult time getting credit;
- If you find a mistake on your credit report, clear it up right away. (Get my free report on how to do that by emailing me);
- Help your credit score by paying bills on time, keeping 2 to 4 credit cards, closing unused cards, keeping balances below their limits, and establishing long term credit;
- Your credit will be hurt if you have too many cards (or no cards), high non-mortgage debt, or delinquent accounts.
Your credit score affects everything from getting insurance to interest rates to even some jobs. Make sure you keep your score over 700!