A client had this to say about Shea Peck, a loan officer in Jacksonville, Florida, “My wife and I had the greatest experience ever dealing with Ms. Shea Peck. She is hands down one of the most helpful, experienced, upfront people I have ever dealt with in the Mortgage game. She walked us through all the steps needed and made sure we were completely prepared for everything they could throw at us from the underwriting process. As a small business owner we faced many hurdles through this process especially with the Covid Pandemic but Shea just grabbed the reigns and took care of us every step of the way… We made settlement on our forever home Friday and I will shout from all the roof tops nothing but praise and admiration at all the help she did. Ms. Shea from the bottom of our Hearts the Hanna family truly appreciates and thank you for all your help and patience.”
1. Buy things! (small purchases)
Yes, buying things is what can build your credit. But be careful buying and not paying them off is what will hurt your credit. An easy way to regulate yourself when using your card is only buying gas or groceries when using it. These are necessities that you need to make and usually not over spend on these expenses.
2. Pay Bills on Time
Purchases are necessary when building your credit but you must pay them! Paying them early or on time is the bare minimum when building your credit score. Anything less than this will bring your score down.
3. Pay your credit card off twice
If you are good about paying your bills on time then paying it twice in a month won’t be a challenge. Paying twice means paying half earlier in the month and then later on paying the other half. This looks great to the algorithm that tracks your credit score. It shows that you are taking initiative and will take care of paying your bills.
4. Raise your credit limit
Raise your credit limit not your credit spending, when the limit is raised you are spending a lower percentage of your credit. It is better to use a lower percentage because it shows you are responsible with your money.
5. Pay cards with the highest balance first
If you do find yourself in credit card debt with multiple cards there is a right way to pay them off. You should focus on the cards that you owe the most. If they are about the same amount owed, then focus on paying off the one with the most interest. After this you will need to get a prepaid card to start building your credit again.
A credit score can make or break your home buying options. So, doing the above will get you one step closer to your dream home.
For over 120 years, We've been helping Americans achieve their dreams. We'd love to hear your feedback so we can ensure we're delivering the best service and the best overall value to all of our customers.
Bank of England Mortgage is a division of Bank of England. NMLS# 418481. Bank of England Mortgage is an Equal Housing Lender. Member FDIC. For informational purposes only. Results may vary.
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