Your credit score and you
Posted on December 20, 2005 - Filed Under Credit |
I really wish that when I graduated college that someone would have explained to me
how the world of credit scores work. Everyone is aware that they have a credit score and that the higher the credit score, the better. Since I’ve been dealing with mine now for 10 years, I have learned a few things about credit scores that I will discuss here.
Why?
I’m glad you asked.
Because I really wish someone had explained to me how the world of credit scores work when I graduated college. What is more is the same myths about credit scores seems to be perpetuated everywhere. Growing up in Michigan, I heard the same rumors about credit scores that I hear college graduates spew forth every day in California. I really, really would like to tell them that what they are saying isn’t true. However I am often reluctant because you can’t argue with "Well, my dad told me . . ." and when I ask if their dad is a credit consultant or if they work for Experian, I get "Well no. He’s retired from company X where he made widgets."
Ah, gotcha.
In working closely with two loan officers, I’ve pieced together a "road-map" of sorts. As an FYI, these two loan officers that I have dealt with (and still deal with) each own over 10 rental properties and have been doing loans for over 12 years. Into this mix, comes my real estate agent.
As the saying goes: The proof is in the pudding.
If you feel that the sessions that I am going to write under this subject are complete hog-wash, then I’d like you to explain to me how I got my credit score to swing by 90 points in less than 30 days.
Actually that sounds like a great intro to an info-mercial.
If you liked that post, then try these...
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I admit that for this weeks topic, I really struggled.
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