Whether you are employed by a company or self employed your credit is such a huge part of making sure you will get the best mortgage interest rates BC on any mortgage!

It is an exciting feeling to get your first credit card, hand it to a store merchant and simply enter your pin and walk out with your merchandise. It can be very tempting to use your card up to the limit or even past the limit; however, this is the worst thing you can do. It may seem like free money but it is very far from that. Credit is like a continual test; the higher your score, the better chance you have at being approved for any loan in the future. You are scored on a monthly basis. Based on your habits, your score will either go up, down or remain the same. The beauty of this test is,
I will give you the answers!

Examples of how different actions affect your credit score:

Score will increase

  1. Paying full balance on time each month.
  2. Adequate monthly payments on time.
  3. Keep outstanding balances below 65% of available limits on all credit cards’ and lines of credit.
  4. Limit of $2,500 or more on all credit cards
    and lines of credit

Score will remain the same

  1. Weekly payments
  2. Minimum payments
  3. Shopping for a loan over a 4-6 week period
    with different companies that access your credit.

Score will decrease

  1. Late payments 60, 90, 120 days, the later the payment the more a credit score decreases
  2. Often applying for credit outside of a 4-6 week isolated shopping period, the more often your credit
    is pulled the more your credit score decreases.

For more information on credit and other extremely important factors in getting, refinancing and renewing a mortgage,  for a limited time download my  eBook for FREE!

If you have any questions after you read it just let me know.