Listen to Linda Ferrari on Market Wrap with Moe Ansari talking about recent consumer credit news!
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Click here to watch Linda’s Video on Part 3.
When most people look at their credit reports, they focus on repairing the negative items. My goal with this article is to remind you of how important it is to remember that negative payment history only makes up 35% of your credit scores. That means that 65% of what makes up your credit scores has nothing to do with negative history, making it critical to make sure that all of your good credit is being reported accurately.
For this part of the seris, let’s use the Home Inspection Analogy. When you want to sell your home, you hire an inspector. They make a detailed “fix it list” of the items in need of repair. The theory is that the more items completed on this list, the more you will maximize the value of your home. It’s the same with credit. Your goal is to go through your credit reports with a fine-tooth comb, make a list of the items that are negatively impacting your scores, and know that the more items you check off your list the better chance you have of maximizing your credit scores in the shortest period of time.
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