Having a good credit score is important for buying a car, starting a business, getting a job, and buying a home. Whether you are starting a business or buying a home, we can help you get the loan you need, and give you the advice required to help you improve your credit score.

Obtain Credit
This is the most important step to those with no credit, and is required for your credit score to improve. Your credit score is made up of your credit, your payment history, and the amount of debt you have accumulated. There are many places that will supply those with no credit and bad credit with credit cards or small loans. While the rates may not be ideal, these loans are vital to acquiring credit.

Pay On Time
Once you have credit it is important to pay on time. Nonpayment and late payments have an adverse effect on your credit score that is difficult to get rid of. If you have missed payments in the past, be sure to pay your remaining balance and stay in contact with your creditor to try and remove the blemish on your score. Most creditors are willing to work with you, going silent when you are overdue or know you will be overdue, is a bad idea.

Maintain Credit to Debt Ratio
Even if you pay off your bills on time, if your credit is maxed out your credit score is effective. Pay down your bills and apply for more credit. You typically want to keep your debt at about 30% of your credit.

With a higher credit score, you will be able to lower your interest rates, lower insurance rates, and apply for larger home and business loans. When you are ready to apply for your first or next home or business loan in Fayetteville, Georgia, contact The Mortgage House.