Patti Olivas 5 Tips To Purchase A Home In 2021
When it comes to looking for a house, it could be a daunting task trying to find the right balance between what your personal needs are in a home, and the personal needs of your family and loved ones. In fact, looking and moving into a home is one of the most stressful events that can occur in somebody’s lifetime. That’s why at Dan Olivas and Associates, we came prepared with some guides, tips, and tricks so that you can find your right home with confidence and certainty.
Things That Can Ruin Credit
6 Things That Hurt Your Credit Score
When it comes to renting or buying a home, no matter where you may be, your credit score will always follow you. These are 6 things that can ruin credit. This may be a scary thought, but it is important to accept, especially because of its value in the world we live in now. The number of your credit score can really affect your home and vehicle situation.
This specific score is crucial when wanting to live someplace specific, and it can be devastating not being able to buy or rent the space you’d like because of a low credit score.
There are many things that can ruin your credit. Here I have listed the many ways in which your credit score can be put into risk, and how to avoid ruining your credit score from silly choices that could have been easily avoided.
- Not having credit at all
This I think is very important to talk about. There are some people who may think that credit is not necessary whatsoever and never take the opportunity to build a credit score whatsoever. This is something everyone considering owning a home or vehicle should highly consider. If not considered at all, buying and renting can become a much more tedious process than needed to be.
- Never checking your credit score
Let’s be real, you are probably reading this and thinking to yourself when was the last time you checked your credit score, but it’s okay, we have all been there, and reading this is a reminder to quickly jump in and check your score. This is essential for many reasons, and it can take away the anxiety of not knowing.
- Maxing out your credit card
This can hurt your credit score in many more ways than you think. It is important to consider checking your credit report and check if you have enough credit for how much credit you’ve been using. This has an important affect in things that can ruin credit.
This is probably the worst way in which your credit score can be affected. When filing for bankruptcy, all assets are taken away, and this then connects to your credit score. Filing for bankruptcy can have a really negative impact in your life. It can stay in your credit for at least 10 years, which can turn out to be a very difficult situation to come out of.
- Too many credit cards
There is a credit limit and that can be affected when purchasing too many credit cards. Credit card issuers vary and this can put a lot of pressure on your score if not handled properly.
- Errors in report
Credit reporting errors will have a big impact on your credit score. This can ruin your ability to get loans and credit cards altogether. To avoid this, make sure to continuously check your credit reports and argue any errors against credit suppliers for reporting wrong information on your credit.
The most important thing to get credit started is to apply for credit. This can give you the chance to continue building a good credit score. There are many different types of credit, so make sure to stay observant of what things are building your credit and by keeping track of where your credit is coming from. Contact Us Today.
Things That Can Ruin Credit