Credit Tip of The Day!!!!

1. Payment history - what is your track record? 35 % of the score

2. Amounts owed - how much is too much? 30% of the score

3. Length of credit history - how established is yours? 15% of the score

4. New credit - are you taking on more debt? 10% of the score

5. Types of credit in use - is it a healthy mix? 10% of the score

If your clients need a quick fix there aren't that many. However, many consumers are not aware that high balances on their revolving lines of credit lower their scores! Your clients can get a quick jump in their FICO Score simply by paying their balance down to 30% or less. This could possibly get your lower scored clients back in your office signing papers within the next update to the credit bureaus, a max of 45 days!

Good luck to all of you!

Posted by Dwayne Calk on 04/14/2008 02:52 PM

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credit, credit scores, loan, loan officer, mortgage, tips, real estate, credit restoration, credit cards, fico, fraud, identity theft

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1 Comments on Credit Tip of The Day!!!!

Great advice and tips. I am seeing a lot of clients that are great on the credit side. I don't know if it is just that I am in a resort area or if it is overall. Hmmmm.

04/14/2008 03:06 PM

by Kim Kelley, Realtor (Coldwell Banker Sky Ridge Realty)

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Financial Planner: Dwayne Calk (RMCN Credit Services)

Dwayne Calk
Mc Kinney, TX
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RMCN Credit Services

Office Phone: (972) 529-0900 Ext.: 345
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