Credit Tips

When you check your credit score, you do not get penalized for a hard inquiry. Most credit card companies allow you to view your raw FICO® Score for free without affecting your credit score.

For instance, your mortgage and car payments. One 30-day late account could lower your credit score 30-75 points.

Credit scoring is tricky; a change in credit use could raise a red flag, and lower your credit score. Instead, continue to use your credit as you normally would.

If you receive something from a creditor which may affect your car, call Barb. Barb is your AFFC banker and can supply you with the resources to resolve the critical reporting.

Applying for any new line of credit will hurt your credit score. Even pre-approved credit card invitations can lower your credit score. You could lose up to 50 points for each hard inquiry.

Paying collections will immediately decrease your score due to the date of last activity becoming recent. If you want to pay off old accounts, do it through closing.

If you close an account, it will appear that your debt ration increased. Closing an account will change other factors, such as length in your credit history.

This is the number one credit score killer! Keep your credit card balances below 30% of your available limit. When you consolidate all of your debt onto one card, it appears that you maxed out the card.

No opening new accounts, co-signing, changing your name, or even your address; the less activity the better.