Credit Tips Prior to Your Move
Maintaining a good credit score can be difficult at times, but it makes a big difference when it comes time to purchase a new car or home. While a few points may not seem like much, it can be the difference in spending very little to thousands of dollars in interest when signing an agreement. So how do you raise your score before moving to San Antonio? Try using these credit tips to raise your score before moving.
1. Check Your Credit Reports Regularly
The first thing to do when wanting to improve your credit is to find out where you stand. Request your credit report from each of the three major credit bureaus. There are many ways to gain access to these reports and if you are interested in monitoring all 3 throughout the year, you can purchase an annual package to view them whenever you want. However, for now all you need is a starting point. Review your credit reports and find any issues that you can improve.
2. Find Issues Any Issues in Your Report and Fix Them
Start off by fixing any errors in your credit report. Your plans of moving to San Antonio could be placed on hold if your mortgage loan is declined. To avoid this from happening, fix any issues that you find in your reports. These reports will typically have step by step instructions on how to file claims against any errors on your credit report. As another credit tip, make sure to keep copies and a detailed log of all submissions you make when filing a claim. The bureaus will usually get back to you in a month or two after filing your initial claim.
3. Pay Your Bills On Time
While you wait for errors on your credit report to be removed, remember to stay on top of your current bills. Before doing something major such as moving to San Antonio, your credit should be as spotless as possible. There should be no derogatory marks on your credit in the past few months. Pay your bills on time to increase your score and try paying above the minimum payment to give yourself an extra edge in raising your score. Paying the minimum amount does not show a positive trend on your report. Paying a little extra each month will help reduce your debt as well as save you money in the long run.
4. Pay Off Any Debt
Another important aspect with any credit repair strategy is to emphasize reducing your debt. As mentioned previous in our credit tips, reducing your debt will almost instantly help to increase your credit score. A common mistake that people make are opening a larger balance card and transferring the debt to create a lower utilization ratio. Banks would rather see a small amount of debt owed. So instead of transferring balances, make sure to pay off as many of your credit card debts as you can prior to moving to San Antonio to buy a home.
5. Plan Accordingly and Be Patient
The most important thing to know when trying to improve your credit is that you must give it time. Even when you take care of past due balances and begin reducing debt, it takes some time before a credit score improves. It does not happen overnight, so give yourself time to correct any issues, and pay off any debts you have prior to applying for a loan.