What’s Your Score?

Don’t assume your score is good (or isn’t) just because you have always paid your bills on time (or haven’t.) The only way to know whether you have a good credit score is to check. You can get your credit score free every other week at Credit.com. This is a truly free credit score – no payment information is requested. In addition to the number, you’ll see a breakdown of the factors that affect your score and get recommendations for making your credit as strong as possible.

You Have 30 Or More Official Credit Scores

Most people think they have just one credit score, and that all lenders use this single score to measure your creditworthiness. But not only do you have over 30 credit scores, a quick web search will also reveal seemingly endless ways to obtain them — all offered to you with costs ranging from free to $60.

How do you know which scores matter, when to pay, and when free is fine? Let’s break it down in the first of our two-part article — starting with the paid services.

Can You Get a Better Credit Card?

The Right Credit Cards for You

Secured cards are a common credit-building tool; they require an upfront cash or collateral deposit that will eventually serve as the limit for the card. Then there are subprime credit cards, which don't require an upfront deposit, but often have high interest rates and fees, and low limits.

If you've received an offer for a high-cost credit card, that doesn't necessarily mean that's your best, or only, option. This is why it's important to do your research and shop for the best deal you can find.

For both subprime credit cards and secured credit cards, be on the lookout for ones that carry high fees that could have an impact on your credit utilization ratio, especially if you have a low credit limit. When it comes to your credit score, your debt usage is the second biggest factor in your credit score — and using less than 30% of your credit limit is preferable (10% is even better). Say you have a $300 limit, and a $75 annual fee — this utilizes 25% of the credit limit, then you decide to make a purchase over $15, which will put you over the ideal utilization percentage. Not only is the card striking your pocket, it's also potentially hurting your credit score. Furthermore, some cards have monthly fees that can also bump up your utilization, so it's important to do your research and look for a card within your credit range that offers the lowest fees and lowest interest rates.

There are a variety products and options available to help consumers improve their credit standing. If you are looking for ways to improve your credit or want to find a less costly credit option you can still get a credit card with bad credit, here's how, and you can even rebuild your credit without credit cards as well.

!!How do I get and keep good credit score? To get and keep a good credit score,first pay your bills on time. There are no secrets to building a strong credit score,but following these guidelines should help: Pay your bill on time,every time. One way to make sure your payments are on time is to set up automatic payments, or set up electronic reminders. If you've missed payments, get current and stay current. Don't get close to your credit limit. Credit scoring models look at how close you are to being "maxed out," so try to keep your balances low in proportion to your overall credit limit. Experts advise keeping your use of credit at no more than 30 percent of your total credit limit. A long credit history will help your score. Credit scores are based on experience over time. The more experience you have with getting credit and paying your bills on time, the more information there is to determine whether you are a good credit risk Only apply for credit that you need! CALL TOADY!!!! For More Information Banco Financial Services 734-774-8690

Credit reporting agencies

There are three credit bureaus: Equifax, TransUnion and Experian.

They maintain files on millions of borrowers. Lenders making credit decisions buy credit reports on their prospects, applicants and customers from the credit reporting agencies.

Lenders and other businesses use the information in your credit report to evaluate your applications for credit, loans, insurance, or renting a home.

5 Major Home Selling Mistakes to Avoid in 2017

Sally Forster Jones

Jan 10, 2017, 10:50 AM

It's a new year and it's time for a fresh start. If you're planning to sell your home in 2017, here are a few mistakes you should avoid to maximize your results and minimize your headache. Selling a home can be difficult. Side step these common mistakes to increase your chances for a smoother, faster, and more gainful transaction.

Skipping the necessary preparation. Once the decision has been made to sell, it's understandable that many sellers want to get their homes on the market as quickly as possible. However, taking the time to get your home ready for sale is one of the most important steps in the selling process.

Skipping or skimping on this step is one of the biggest mistakes a home seller can make. You only get one chance to make a first impression and a great first impression can translate to actual dollar value -- especially in a competitive market.

Take the time to paint, make repairs, declutter, tidy landscaping and stage the home, if needed. An experienced real estate professional can help you to determine what work needs to be done and how it could affect the value of your home in the local market.

Clean up and declutter. Potential buyers need to be able to picture themselves in your home --too much clutter, personal items or disorder can be distracting and turn buyers off.

Repair and upgrade. Even small cosmetic issues can be a red flag for potential buyers. Chipping paint, water stains, cracks or stained carpets can be signs of neglect or larger problems with the property. Your home should look well cared for and maintained.

Stage. Staging can range from simply refreshing and rearranging current furnishings, to editing and adding accessories, to complete professional staging.

Take great photos. Proper preparation also translates to a well-executed marketing plan. Your home should show at its best in person as well as in the property photos and collateral materials. As more and more buyers are turning to the internet to begin their home search, we rely on excellent photography to make a great first impression. Ditch those iPhone or point-and-shoot images. Professionally shot and staged property photos are an absolutely essential sales tool.

Pricing too high for the market. Pricing is the most important decision, and the one that will have the largest impact on your sales outcome. The biggest mistake sellers make is overpricing their property for the market.

Overpricing typically leads to more days on market, which can negatively affect your final sale price. Whether you're in a hurry to sell or not, time is a critical factor in selling your home. In general, the longer a property sits on the market, the less urgency buyers will feel, the more leverage they will feel they have and the less likely you will be to attract the attention for multiple offers.

Pricing can be a sensitive topic of discussion, and it's a good idea to work with an experienced professional who knows the market as well as your specific neighborhood. As a seller, it can be difficult to see your own home with unbiased eyes. Emotional attachments and financial obligations can cause sellers to reach for more value than the market will bear.

Review comparable deals in the area, take a realistic look at your home and discuss the positives and negatives of different pricing strategies with your agent to determine what will work best for you.

Even with thoughtful pricing, it's still possible to miss the mark. Sellers who are able to keep their emotions and expectations in check will be better able to reassess a situation and find a successful outcome.

Being present for showings and open houses. As much as you may want to be completely hands-on in the sale of your home, it's almost never a good idea to linger during showings or open houses. When the seller is present, it can create an awkward situation for potential buyers.

Buyers may feel they're intruding on your home, which can make it even more difficult for them to imagine themselves living there. They may feel rushed or inhibited by the seller's presence and may not take the extra time they need to go through the home at their own pace. In addition, buyers may not feel comfortable expressing their true feelings about a property which can lead to frustration and inaccurate feedback.

Pricing too high for the market. Pricing is the most important decision, and the one that will have the largest impact on your sales outcome. The biggest mistake sellers make is overpricing their property for the market.

Overpricing typically leads to more days on market, which can negatively affect your final sale price. Whether you're in a hurry to sell or not, time is a critical factor in selling your home. In general, the longer a property sits on the market, the less urgency buyers will feel, the more leverage they will feel they have and the less likely you will be to attract the attention for multiple offers.

Pricing can be a sensitive topic of discussion, and it's a good idea to work with an experienced professional who knows the market as well as your specific neighborhood. As a seller, it can be difficult to see your own home with unbiased eyes. Emotional attachments and financial obligations can cause sellers to reach for more value than the market will bear.

Review comparable deals in the area, take a realistic look at your home and discuss the positives and negatives of different pricing strategies with your agent to determine what will work best for you.

Even with thoughtful pricing, it's still possible to miss the mark. Sellers who are able to keep their emotions and expectations in check will be better able to reassess a situation and find a successful outcome.

Being present for showings and open houses. As much as you may want to be completely hands-on in the sale of your home, it's almost never a good idea to linger during showings or open houses. When the seller is present, it can create an awkward situation for potential buyers.

Buyers may feel they're intruding on your home, which can make it even more difficult for them to imagine themselves living there. They may feel rushed or inhibited by the seller's presence and may not take the extra time they need to go through the home at their own pace. In addition, buyers may not feel comfortable expressing their true feelings about a property which can lead to frustration and inaccurate feedback.

Not working with an experienced professional. Working with an experienced real estate professional can make all the difference in your home selling experience. A good agent can provide you with support, advice and resources to help you avoid many of these common pitfalls.

From preparation and pricing to marketing and showing your property, a good agent can alleviate much of the stress, time and legwork necessary to get your home sold. Real estate transactions can get complicated and once a buyer makes an offer on your home or you enter escrow, a seasoned professional who is skilled in negotiation and familiar with the process can be invaluable.

When you're interviewing and hiring an agent to sell your home, it's important to ask questions. Not all agents are created equal, so choosing the best person to represent you is key. Working with an underqualified agent, or even someone who just doesn't mesh with your personality and goals, can be just as detrimental as going it on your own.

Consider experience, past and current deals, market knowledge and marketing know-how. Equally important is to hire someone you respect, trust and feel you can work well with.

Avoid these common home selling mistakes and set yourself up for a positive and prosperous 2017.