How Attractive are You...Credit Speaking?

Take a long look in the mirror; is there more to you than meets the eye? Of course! That may be the stupidest question ever committed to written word. A few taps on the back space key and no one would ever have to know about it. If only your credit history was like that.

Your credit score is your own. Unfortunately, your credit success and baggage can have a significant impact on your ability to live happily ever after and co-sign for future big relationship items … with preferential interest rates. If you have bad credit you could affect a potential partner’s chance at getting a home. You could influence their retirement plans. You could force them to slow down their dreams, or to postpone them permanently. Put yourself in their shoes, would you expect anything less?

Drilling deeper doesn’t have to be complicated. Missed bill payments. Bankruptcy. Credit card debt and history. Applications and credit inquiries. These all have influence on your credit score – the one number that wraps your credit status and worthiness into an easy to understand 3 digit number. Typically a credit score, like the Experian Credit Score, ranges from 330 and 830. Bigger is better. It’s calculated from information contained within your credit report. When you get your credit score you should also see information on what’s helping or hurting your score. Who knows, this could be the information you need to take action to improve your score.

The Almost Credit Makeover – a few actions that may bump up, or maintain, your score:

- Dispute Credit Report inaccuracies; mistakes may lower your credit score shutting out the best interest rates. Check your credit report for inaccurate accounts and late payments.

- Confirm your personal information; errors may be a simple mistake or a sign of identity theft. Check your credit report for incorrect addresses and names.

- Manage credit and pay down balances; using too much or all of your available credit deflates your credit score making creditors question whether you can handle more. Keep your credit usage under 30% of each card’s limit.

- Don’t apply for unneeded credit; keep credit inquiries to a minimum because it can impact your Credit Score.

- Monitor credit daily; double check your bills and consider a credit monitoring service to stay on top of your credit.

Knowing that your credit is in order can be yet another reason for you to feel good about yourself and confident in what you bring to a relationship. It can take time to put yourself in the most favorable position possible but, as with most things in life, the best results usually do take time.