Are you a credit profile expert? Probably not, so these 3 tips will help you maximize your credit scores before applying for a mortgage loan. These tips are counterintuitive, which is why everyone needs to be informed. Send to all that could benefit.
- Pay-off your car loan(s)
- Let credit card balances and purchases go above 50% of the credit card limit
- Close any accounts, even if not using
The reasons you should not do it:
- By paying off your car, your credit score will decrease because you are removing a positive credit payment history from your credit profile.
- By allowing your credit card balance and purchases above 50% of the credit card limit, it appears you spend too much and can’t manage your debt. If you need more credit, better to open another credit card account.
- Closing credit card accounts removes positive credit payment history from your credit profile, thereby decreasing your credit scores.
When you want the most accurate information, call me at 949-484-6322, because I talk to all types of lenders and several different credit repair companies to verify this insider information.