You probably know that paying off your credit card bill every month is the best way to boost your credit score. But did you know that if you do have a balance and it is much over 30% of the limit capacity that it could negatively affect your credit score? Your utilization ratio or credit limit, is calculated by weighing the amount you owe on each card with what your credit limit is. So if your credit limit is 1000.00 and you owe 500.00 then that can definitely lower your credit score.
So a quick way to fix this is call your credit card companies and ask them to raise your credit limit. So instantly your percentage of what you owe compared to you credit limit is changed immediately. You must discipline your self not to run up the limit on the card though. It's a good idea to raise your limit even if you pay off your balance every month because most credit card companies report balances mid cycle to the credit bureaus so your FICO number may be determined based on what you have charged at that time before the bill is paid off.
One of the main reasons people always try to keep their credit score in the best shape is for "big purchases" like a house! Check out these homes below in the Columbia, South Carolina area.
Chapin, SC is known as "The Capital of Lake Murray" and with good reason. The residents of Chapin enjoy a relaxed lifestyle with the convenience of the city. Columbia, SC is just a quick 20 minute drive and shopping is even closer.You are embarking on an exciting journey, be sure that you find agents that will take time and share your enthusiasm during this process.
EXIT Midlands Realty is a full service real estate firm dedicated to assisting our clients with the purchase and sale of real estate in the Greater Columbia Area. We were founded in 2005 and quickly grew into one of the most innovative and knowledgeable firms in and around Columbia. Our staff is made up of full time professional agents that are dedicated to the profession of listing and selling real estate.
Call one of our experienced agents to assist you with your real estate needs. It would be an honor to work with you.
"Sarah helped us rain or shine! She was very thorough and not pushy at all. I have already recommended her to several people looking for homes. Our family looked for homes for a solid year before we finally found the right place. Sarah took her time with us and always had an answer to any question we had. If it weren't for her, we would not be living in our very first home! Thank you so much!"