How You Can Protect Your Credit This Holiday Season

Today I wanted to talk to you about how spending and credit over the holidays can affect the purchase of your next home. Since we handle this day in and day out, I’ve gathered some tips to help you out. The first tip I can give you is not to open a new credit card. I know this can be tempting because your budget may be tight and you want to get your kids the presents they want. Also, try to avoid special discounts at retail stores when they want you to sign up for a store account. The cashier may tell you it’s not the same as a credit card, but they do pull your credit. These little things can tick away at your credit score.

Although the guidelines for lending have relaxed, it’s still important that you keep these small blemishes off your credit score. Saying no to the “90 Days Same as Cash” will save your credit from any unwanted hits because your credit score is vital right now. I know it is easy to get swept up in the holiday season, but you must keep your accounts current. This can be done by setting an alert or alarm to remind you and don’t allow yourself to be late with payments. Lenders like to see revolving credit and knowing you can charge something and pay it off. Be sure not to max your cards and keep the balance as low as possible.

Keep building your credit through the holidays and if you have any questions, please call us. Have a great day!