BUSINESS CENT$
5 STEPS THAT CAN IMPROVE
YOUR CREDIT SCORE
IN 100 DAYS OR LESS
Article by Vantage Score Solutions
(BPT) - Low interest rates, a strong economy and the turn of the seasons are all causing the real estate market to heat up. More homes on the market bring more competition to buy the inventory that is out there. And one way to stand apart from other buyers who are vying for their dream home is to take steps to improve your credit score now.
"Preparing your finances is a must before the busy real estate season," says Barrett Burns, president and CEO of credit score model developer VantageScore Solutions. "Knowing your credit scores and making improvements is essential to getting the best loan at the best rates. This also makes you a more attractive home buyer, especially in a competitive market."
With limited time, you may think there's nothing you can do to improve your score. Burns says that's an incorrect
assumption. While you can't make dramatic jumps in just a couple months, there are several steps you can take that may influence your score to increase enough to get you prequalified for the loan you want.
Keep in mind, lenders will pull your scores from all three major credit bureaus (Equifax, Experian and TransUnion), so it's wise to check your credit report from each of them. You can do so for free once every 12 months at AnnualCreditReport.com. For best results, monitor at least one credit score from each of the bureaus. You also can check your credit score for free through a large number of online services, such as CreditKarma.com, NerdWallet.com or Credit.com. Other sites offering free VantageScore credit scores can be found at VantageScore.com/free.
"Creditors are interested in seeing how you manage credit, and the consistency of behavior counts."