The Credit Score Puzzle, Part 2
February 24, 2008 Last entry, we talked about payment history and your credit score. Your payment history makes up 35% of your credit score, so paying all your debts on time, over time, is the best way to increase your credit score.
30% of your credit score comes from your outstanding credit balances. If you are consistently maxxed out on your credit cards, you'll have a lower credit score than if you only use about 30% of your available credit. This is true even if you always pay on time -- the rationale being that you don't overly rely on credit to get by.
Maintaining a low balance shows that you can manage your credit, instead of it managing you.
Next time, the rest of the credit score puzzle.
(C) Susan Pruden.
A lifetime Maryland resident, Susan Pruden has the ideal foundation for selling and buying homes. After 8 years working in just about every facet of the mortgage industry, and several years with her own company specializing in marketing for real estate agents, Susan got her real estate license in 1994. Susan has earned several industry awards. The CENTURY 21 Quality Service Pinnacle Award is based on reviews from Susan's clients and is earned by a very small percentage of agents. She has earned that coveted recognition since 2012
Two others were awarded by the Prince George's Association of REALTORS®. The Distinguished Sales Associate of the Year Award is based on a mixture of community involvement, association involvement and real estate education and designations. The other, the Distinguished Service Award, is for "exceptional meritorious service."
Susan is involved in her local community. She was named Cheverly Volunteer of the Year in 2018, even having June 25th designated "Susan Pruden Day" in the Town of Cheverly. She is also a Commissioner on the Prince George's County Historic Preservation Commission and President of the Cheverly American Legion Auxiliary.
Susan Pruden has lived in Cheverly lived with her husband, Joseph, for almost 30 years.
