CREDIT INFO TIDBITS April 2022
Go to Myfico.com - you can pull the credit score used in the mortgage industry. It's a soft pull and it will NOT hit your credit. You must pay for it though, but it is very well worth it because you get to see the actual score that the mortgage companies look at when you want a home loan.
Medical Collections - As of July 2022, paid medical collections won't show up on your credit report. In 2023, medical collections with a $500 balance or lower won't show up on your credit report at all.
You can get a free credit report once per week now instead of once per year at annualcreditreport.com. Here you can see when (the date) a collection or late payment falls off your credit.
You really only need 6 accounts open on your credit report; this is the ideal number.
- 3-4 credit cards
- Auto loan
- Home loan
NEVER close your oldest credit card. You want to keep this open as it helps your score by showing the longevity of your established credit. Do not close any of your credit cards, but definitely do not close the oldest card on your report.
If you need help with credit repair, let me know and I can direct you to someone who is amazing at credit repair!
