Celebrate “Get Smart About Credit” Day

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October 15, 2020 is "National Get Smart About Credit" Day. Every third Thursday in October promotes learning about what goes into achieving good credit. This national campaign includes volunteer bankers who counsel young people on responsible credit habits. But it's never too late to learn more about credit.

What are some steps you can take to get smart about your credit? If you're trying to buy a home, it's something you should be thinking about now.

  • Lock your credit accounts. You can lock your credit with the three major credit bureaus. When you do this, others can't open credit under your accounts.
  • Stop opening new credit accounts. Unless you're hurting for credit, opening new credit accounts can reduce your score short-term. Open accounts sparingly.
  • Pay down your debt. The best way to improve your credit is always going to be to pay down your debt as much as possible.
  • Correct any errors. If there's anything wrong on your credit report, you can dispute it. Make sure your balances are being reported correctly, as well as your credit limits.
  • Get more credit. Ask for more credit on your existing credit lines. This won't hit your credit report as a new account, but it will show that you have more credit to spend. 
  • Make sure you have a variety of credit. Usually bankers look at whether you have installment loans, credit accounts, and other similar accounts.
  • Take a seminar. If you want to learn more about your credit, consider taking a seminar locally to find out more information about how credit scores are built.

It's important to establish and maintain good credit when you’re home shopping. If you're dedicated, you can often clean up your credit in less than a year. And if your credit is already great — perfect, keep it that way! Contact Landmark 24 Homes today if your credit is "dream home" ready.