How to Improve Your Credit Score

Tips to a Better Credit Score and Mortgage Options

Fix your credit score red tool box


When considering purchasing a home, it is important to know your credit score. If you have a low FICO score, you may want to fix your credit first before applying for a mortgage.

Here are some things you can do to improve your credit score:

Credit Cards:

  • Always keep your credit cards paid on time
  • Pay the minimum balance if you cannot afford to pay more
  • If you have missed payments, catch up the outstanding amounts and then keep them up-to-date
  • Payment history is important, so pay regularly and never miss a payment

#Tip – Try not to spend more than half your credit allowance. That seems to be the magic number to keep your credit score improving.

Paying Your Bills:

  • As with your credit cards, paying your bills on or before due date is critical to keep a good credit history
  • Mortgage lenders, like to know that you pay your bills regularly
  • At least six months credit history is important as it shows a responsible pattern of payments and improves your credit score

Store Cards:

Store cards are only valuable to the shop where you asked for credit. Try not to use store cards, they do not enhance your credit score and if you are late paying your bill they are quick to report your late payment. Their value to your credit history is minimal.

Do Not Open More Accounts 

If you are considering purchasing a home, do not go and buy more items on credit. Keep a stable and improving credit history in order to get a mortgage. Once you have purchased and closed on a home, you can consider more credit, but until then, its a good idea not to change anything that may jeopardize your credit score

Getting Pre-Approved for a Mortgage

Find out more about the various Types of Mortgages here


Copyright: iqoncept / 123RF Stock Photo

Tags: ,

Leave a Reply

You must be logged in to post a comment.



The data relating to real estate on this Web site derive in part from the Canopy MLS IDX program. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID and the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.
Based on information submitted to the MLS GRID as of 06/26/2020, 4:04:19 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Lifestyle, neighborhood, and school data ("Supplemental Data") is provided by the operator of this website as a convenience to users. This Supplemental Data is not provided or reviewed by Canopy MLS. The operator of this website updates the Supplemental Data from time to time, but it does not represent, warrant or otherwise promise that the Supplemental Data is current, free from defects, or error-free. All Supplemental Data is provided AS IS with all faults. Users are encouraged to consult their own data sources to confirm the accuracy of all Supplemental Data before using the Supplemental Data as a basis for any decision. Complete list of data sources.