Nobody likes a TATIL tale. Especially when you are the one being TATIL’d on. Here are 5 tips to ensure your credit report will TATIL nicely.

1. T is for Timeliness.

Payment history is a key factor in determining your credit score. Your creditors and your credit report track when and how much you pay for each payment. A late payment can stalk you for up to 10 years. Bankruptcy, collections, and judgments fall into this category. To ensure that your payments are timely, automatic bill pay is a great way to go. And, make sure your payment arrives to the creditor at least 5 days prior to its due date.

2. A is for Amount.

How much you owe shows if you are overextended or use your credit wisely. It is ideal to carry a balance of approximately 30% of your total credit line on credit cards. For example, if your limit is 1,000 you want to carry a balance of approximately $300.00. Using your credit is good. Overextending is bad. Thusly, can dramatically affect your score.

3. T is for Type.

There are several types of credit. Installment, revolving, and mortgage. An example of an Installment loan would be a car loan, Revolving would be a credit card, and Mortgage is for property or house. Ideally, all three would give you a nice and balanced credit report. No credit or bad credit? Start with a secured credit card. This is a great way to get started and get some positive notes on your report.

4. I is for Inquiries.

The credit reporting agencies track how many times you “inquire” for new credit. Even if you do not open a new account for credit, it is still reported. Too many inquiries or too many new accounts spells trouble for your credit report. The fewer the better. Your credit report views this activity as risky. Therefore, they lower your score.

5. L is for Length.

The longer you have a credit account the better. This shows stability and the ability to properly manage your credit. Your credit report shows that you are able to use your credit powers for good, not evil. And, your score is rewarded.

About Azevedo & Associates

Azevedo & Associates is an independently owned and operated real estate brokerage located in Granite Bay, California. Jennifer Azevedo, owner/broker, has over 10 years experience in the industry and is considered “cutting edge” by her peers and other professionals for Azevedo & Associates use of technology, paperless systems, marketing support, “green” business practices, and is a certified EcoBroker. With a mission statement that transcends beyond just real estate, it is infused into the company’s marketing, activities, priorities, and goals. Their mission is to H.E.L.P – Honor. Empower. Listen. Prepare. www.Azevedo-Assoc.com.