Understanding Your Credit and What Affects Your Score in Bellingham, WA

Your credit score is the number one piece of information that creditors are going to use to evaluate you as a borrower, whether you live in Whatcom County or somewhere else. http://www.StopForeclosureBellingham.com says that your credit score is a measure of your risk as a borrower. Creditors view your score in terms of risk, the lower the score, the greater the risk, and the higher the interest rate and, if you are buying a home, down payment required.

The single biggest factor in establishing good credit is paying your bills on time. Paying your bills when they are due is the single biggest factor in achieving a high credit score. Late payments will appear on your credit report for two years. http://www.StopForeclosureBellingham.com answers that if an unpaid account is placed for collection, it is still not removed from your credit report.

Another issue that will affect your credit score is having credit cards with high balances. http://www.StopForeclosureBellingham.com suggests that if you dont already have a small line of credit established with a credit card company, its time to get a credit card and make sure you are paying it off in full. This will establish a good credit history, but remember if you do have some credit established, applying for more credit will only hurt your credit score.

No matter where you live in Bellingham, WA or Whatcom County, your credit report will stay with you, even if you move somewhere else in Washington state or beyond.

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