“I’d like to buy a home, but have some credit issues. Do you know where I can find out how to improve my credit?”
Answer:
Here’s a tip from San Diego credit repair expert Derrick Evens of “Perfect Credentials” (858-571-0271, derrickevens@yahoo.com):
Credit repair/improvement tip:
CHECK YOUR CREDIT LIMITS…
“One of the most commonly misreported items on credit reports is a credit card’s “limit”. This sounds insignificant, but consider this… 30% of your credit score is derived from the balances you carry on your credit cards with respect to the credit limits. 35% is derived from payment history, so your balances are very important! A good rule of thumb is to do everything you can to keep the balances on your credit cards below 50% of the credit limit. This will help your score tremendously. When it comes time to review your credit report (which you should do at least every 6 months), be sure to check that the limits on all your credit cards are reporting correctly. If not, it can cost you big-time!”
