Boca Mortgage Blog

What Steps Can You Take to Improve Your Credit Score?

December 9th, 2014 3:57 PM by Leonard Silvestri

When the time comes to refinance your home or buy a new one, your credit score determines a lot. Unfortunately, there is no quick fix to adjust a less than desirable score within a short amount of time—however, there are a few strategies you can make a habit of to keep a good (and even great) credit score.

  • Pay your bills on time. Late payments lower your score, so it’s important to keep up even if it is the monthly minimum.

  • Keep a low balance in your credit lines. The lower the size of the balance, the better for your score.

  •   Don’t take on more than you can handle. Filing for bankruptcy and foreclosing can be devastating, often remaining on your report for as many as 10 years.


  • Order a copy of your credit report once a year to be aware of your standing. Be sure to dispute any inaccuracies.


A bad credit score doesn't mean you won't be able to buy a house or refinance your mortgage. Contrary to popular beliefs (some myths) about how credit works, you can recover a good score with an efficient strategy. You won’t be able to turn your credit score around on the spot, but over time and with good habits, you can increase your score by as many as 50 points per year. 

Posted in:General
Posted by Leonard Silvestri on December 9th, 2014 3:57 PM


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