With lending standards tightening having a strong credit score is more important than ever.  Sure maybe a few years ago you could walk into a mortgage office with a 500 credit score and no income verification and get a loan… but not today.  Things have changed, and if you’re credit score is less than a 620 it is nearly impossible to get financed. 

                So what sort of things can you do to increase your credit score?  First and foremost you need to find out what your credit score is.  If you don’t find out your score then you will not know if you’re making any progress increasing it.  I recommend going to freecreditreport .com this site is just like the commercial says.  After setting up an account you will be able to check both your credit score and keep track of your credit report.

                If your score is less than a 600 and you’re looking to purchase a home I would recommend getting enrolled in credit cleaning.   This service will only cost you $325 ($225 for a single person) and its money well spent.  The great majority of my clients have duplicates on their credit reports.  That means that if you have a collection for say $100 to AT&T that collection would actually show up twice on your credit report.  Each collection listed on your credit report brings down your score by an average of 15 points.  Once you’re enrolled with credit cleaning these duplicates are generally off of your credit in 30 days.

                Credit cleaners are becoming more common by the day but only a select few have the knowledge and the experience to professionally clean your credit.  I prefer to use a company called Gain Sum Points.  They have worked with dozens of my clients and in my experience are the most accurate and persistent in working with people and their credit.  Thanks to their excellent work several of my lease option tenants are getting closer to their dream of home ownership. 

                Even if you’re just planning on renting I would still recommend getting enrolled in credit cleaning.  Having a strong credit score will allow you to easily get approved for other credit related items such as car notes, credit cards, and even cell phones.  Strong credit tells lenders of all types that this person is a worthwhile risk and that the chances of them getting their money back are high.  If lenders perceive their risk in lending you money is low you will generally be rewarded with a lower interest rate.  Poor credit borrowers are a higher risk so generally there interest payments will be higher. 

                If you have any question regarding how credit works or would like to get in contact with a credit specialist give me a call at 816-372-7855 or send me an email at justin@vizionkc.com

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-- Justin of Vizionkc