Meet with a debt settlement attorney and you will likely hear that you shouldn’t be married to your credit score. Fact of the matter is that it is a fluid number. If you aren’t planning on utilizing your credit for a while, a decision to settle your debt and lower your score for a while shouldn’t be a concern for you. But for those out there either married to their score or looking to utilize credit in the near future, here’s a good list of things that WON’T hurt your score.
The author spends a majority of the article commenting on not carrying a balance. If you take only one thing from this article, take note that you do not have to carry a balance to show good credit. In fact, one of the common mistakes people make is a high utilization of available credit. The problem arises when an individual fails to pay off a balance prior to the creditor reporting to the credit bureaus. If you are utilizing the credit to build up rewards/miles, the key is to ensure that you pay the balance due before the creditor reports the status of your account monthly, which is usually at the beginning of the month
Latest posts by Kevin Fallon McCarthy (see all)
- Public Servants’ Second Chance at Federal Student Loan Forgiveness - April 10, 2018
- CREDIT CARD LOSS FOR SMALL BANKS AT AN EIGHT YEAR HIGH - March 22, 2018
- Rise of the Jumbo Student Loans - March 17, 2018
