https://www.financeglobe.com/post/what-s-the-problem-with-a-low-credit-score/ Personal Finance Tips & Tools Mon, 11 Mar 2019 11:39:54 +0000 hourly 1 https://wordpress.org/?v=7.0 https://www.financeglobe.com/post/what-s-the-problem-with-a-low-credit-score/#comment-659 Mon, 11 Mar 2019 11:39:54 +0000 https://www.financeglobe.com/tools/2019/02/07/what-s-the-problem-with-a-low-credit-score/#comment-659 One method to help improve credit scores is to keep your credit utilization under 30% and some schools of thought even take it to 6% and 1% with one credit card reporting a balance. Another big help is go to the garden for six months plus and let your credit take a rest. Lack of credit seeking can aid your scores due to allowing your “oldest account” and “average age of accounts” to get older. You would be amazed at how well this works. Remember a FICO Score of 720 will generally get you the products you seek and with good terms. Many people have credit scores in the 600’s and you may get approved but with lower credit limits and higher Aprs. Mortgages can often be attained with scores at 620 but again, the higher the score the better the interest rate and if you are looking out over 30 years this can be big money saved! All food for thought!

]]> https://www.financeglobe.com/post/what-s-the-problem-with-a-low-credit-score/#comment-658 Wed, 27 Feb 2019 20:34:04 +0000 https://www.financeglobe.com/tools/2019/02/07/what-s-the-problem-with-a-low-credit-score/#comment-658 Thanks for the info Chris. A low credit score really only hurts you. If you have a low credit score now, make a goal this year to improve it so you can improve your financial situation!

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