When buying and selling real estate, so much is affected by your personal credit score. Everything from how much you can borrow, to the best interest rate you can get, is determined by your credit rating. While there are many factors that influence your credit score, you can start to repair poor credit today.

The Mad Money Analyst has written an article with advice on how to improve your credit score. Among their suggestions for rebuilding are:

  • Pay your bills on time. Delinquent payments can have a negative effect on your score. This is the largest contributor to an increase in your credit score.
  • Set up auto bill pay from your banking institution for regular planned payments.
  • Keep balances low on credit cards and other revolving lines of credit as high outstanding debt can have a negative effect on your score.
  • Open new credit accounts sparingly as the more credit accounts that are open can have a negative effect on your score as well.
  • Apply for credit accounts only as needed as inquiries on your credit report can have a negative effect as well.
  • When possible, pay off your debt opposed to simply moving it around. Some credit reporting agencies will see this consolidation and it may lower your score.
  • Review your credit report on a regular basis. According to the Fair Credit Reporting Act you are entitled to one free credit report viewing annually.

This is useful advice. I highly encourage you to follow these tips; you will be glad you did.