How To Improve Your Credit Score
A higher credit score unlocks lower interest rates, reduced PMI premiums, and expanded loan eligibility.
1. Pay Down Revolving Credit Card Balances
Your credit utilization ratio (credit card balance vs limit) accounts for 30% of your total credit score. Keep balances below 30% of your credit limit across all cards (ideally under 10% for maximum points).
2. Do Not Close Old Credit Card Accounts
The length of your credit history counts for 15% of your score. Closing an old credit card shortens your average account age and reduces your overall available credit limit.
3. Avoid Opening New Credit Lines Before Buying
Hard inquiries and new retail store cards lower your average account age and add temporary score dings. Hold off on auto loans or financing furniture until after loan closing.
4. Leverage Rapid Rescoring
When you work with Mark Harris, we can run What-If credit simulators. Once balances are paid down, we submit proof directly to credit bureaus for a rapid rescore in as little as 3 to 5 business days!
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We review your current credit profile without impacting your score and tell you exactly what to pay down for maximum rate savings.
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