Tuesday, November 16, 2010

Aiming For A Good Credit Score


The first thing I have been taught since I got my first credit card here in the U.S. was to learn how to build your credit history. It is not just a credit history but with a good credit score. To have a good credit history depends on how you manage your finances. I was always advised not to skip payments on any of my bills, do not over borrow money and keep your credit card balances low. So far I have been doing well but when times are rough, I tried not to skip any payments; at least I make it to the minimum.
Now here comes the major investment that we are trying to make – buying a home. They say that this is the best time to buy a house because the interest rates are low and the price of a new home is declining except in some states where recession has not affected them at all. We have been trying to avoid using our credit cards because we know sooner or later we are going to get our free credit score for our loan. We are also trying to pay off as much debts we owe now to be
able to get a high score on our credit history. This is a long process but we are so careful with every step we make. I hope this will materialize soon.

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