Credit Cards are MAJOR culprits in KILLING your credit scores and running your debt bill up. Here are a few common mistakes you want to avoid to stay ahead of the credit card game. Remember credit cards are not bad, if used properly they are one of the best tools to build a strong credit profile.
NEVER MISS a Payment -If you’ve been following me, you know payment history makes up 35% of your credit score. Missing just one payment (going beyond 30 days after your due date) could drastically kill your credit score. Here’s the kicker…the higher your credit score the greater negative impact the late payment will have on your score.***So if push comes to shove and you have to pay late, don’t go over 29 days late. You will receive other fees such as late payment fee and in some cases increased interest due to the late payment, but at least you won’t have the negative mark.
NEVER MAX OUT your Credit Cards-Utilization makes up 30% of your credit score. To maximize your credit score and keep your debt low keep your balances between 0-9% for maximum benefit and below 30% to avoid taking a hit in this catergory. .
3. DON’T Close Accounts -Length of history accounts for 15% of your credit score. By closing your credit cards (even unused ones) causes you to lose credit history which will decrease your score. The objective with credit is to build a solid credit history. The longer the history along with an evidence of managing multiple types of accounts.
4. NEVER Take Out Cash Advances-Cash Advances are a MAJORRRR no no! Like Seriously! They are the MOST EXPENSIVE transaction APR/FEE wise and are considered to be a super high risk transaction. .
5. DON’T OVERSPEND-Plain and simple NEVER borrower MORE than YOU can pay! Period. Don’t get knee high in credit card debt trying to keep up with the Jones’. Be Smart!
If you've thought about buying a home instead of renting but didn't think you'd qualify, come see me! We have some amazing programs and loans for first-time buyers that will make homeownership easy and affordable!
1 122 hours ago
Do you remember the house from the 1970s TV show, The Brady Bunch? It's now listed for sale!
Come see me tomorrow, Wednesday 26th from 10-1 and Friday 28th from 12-3pm at 1053 Oro St., Laguna Beach. This stunning ocean view home is fully remodeled from top to bottom. You will not want to miss this one. CALL FOR MORE INFORMATION.
Nook Real Estate
Protect homeownership this November by voting YES on Prop 5 and NO on Prop 10. There are less than two months between now and Election Day!
California is facing a housing crisis – and it’s getting worse. Put simply: there’s not enough homes. Too many potential homeowners and renters are simply priced out of the market. This November, we can take decisive action to protect homeownership and private property rights in California.
Prop 5, the Property Tax Fairness Initiative, removes the unfair moving penalty for seniors, the severely disabled and disaster victims across the entire state while still ensuring they pay their fair share of property taxes.
Prop 10 will make California’s housing crisis worse. It’s the wrong solution for a state that desperately needs to create more affordable housing for middle class families. Seniors, veterans, both gubernatorial candidates – Democrat Gavin Newsom and Republican John Cox – and affordable housing experts all oppose Prop 10 because it will make housing less available and less affordable.
It’s absolutely critical that we rally to vote YES on Prop 5 and NO on Prop 10 this November. Together, we can make our voice heard and protect the American dream of homeownership for all Californians.
Please contact me if you need any further information on this subject! #sophiebullrealty#yes5no10#homeownership#prop5#prop10#kw#kellerwilliams#realtor#california