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t might be advantageous to improve your credit score to get a better rate. Here are a few things to keep in mind when you are trying to improve your credit score:
Are you looking to apply for a Philadelphia mortgage in the near future, but you aren’t sure if you sure if you qualify for a mortgage? There are a number of different mortgage products out there, so you should do your research in advance to determine whether you qualify for any of them
Sites like Credit Karma will provide you with an estimated credit score for free. All you need to do is plug in some information, and they will take care of the rest. You can also get your credit score for free from your credit card company as a perk. See where you stand, so you know whether you need to improve it.
Every year, you are entitled to a free credit report from the three credit card reporting bureaus. We highly encourage you to take advantage of this program, so you can see if there are any errors or not. If there are, you should take steps to correct them as errors can cause your credit score to go down. You can also make sure your identity hasn’t been stolen.
One of the most important factors that will weigh heavily on your score is your credit to debt ratio. If your credit card utilization is more than 33%, you should work on lowering your debt. In addition to that, make your payments on time and don’t close any old credit cards as credit card history is an important part of your score.
By reducing your debt and making your payments on time, you can get a score that will earn you the best Philadelphia mortgage possible. Also, keep in mind that personal credit scores are important for business loans too. If you are looking at SBA Philadelphia business loans, make sure your credit score is above average.
