How Can You Easily Improve Your Credit?

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Today I have Brandie Denton with me to discuss how you can positively impact your credit score. Brandie works with Waterstone Mortgage (https://www.facebook.com/mortgageloanexpert.net) and she's always the person I refer my clients to when they need help financing a home in Bloomington.

I've been hearing a lot about trade lines lately, and trade lines are pretty much anything that will show up on your credit report. This will include things like car loans, credit reports, and mortgage payments. These kinds of trade lines are what make up your credit history and determine your credit score.

So, is it better to have a high credit limit or a low credit limit? A credit limit is your available balance of what someone is willing to lend to you, so it's better to have a higher credit limit but it's not necessarily better to have a higher credit balance. 

Is the length of time that your credit is open important? Every 30 days your credit will be reported, but some mortgage products require up to a 2-year credit history.

If you have any more questions about credit, please don't hesitate to contact myself or Brandie. We both look forward to speaking with you!