Building relationships is a delicate dance of etiquette, timing, and chemistry. You can’t have one without the other, and one bad move can shatter everything you worked for. Building a strong credit score is the same. After a creditor decides to take a chance on you, a relationship begins, and it’s your actions that dictate a high or low score.
Don’t show up late. Don’t pay late.
At the beginning of any relationship, etiquette is everything. Nothing will burn a bridge faster than showing up late to a first, second, or even third date. The same goes with paying your bills on time. After being approved for credit, paying on time is essential for building the foundation for a strong credit score. Pay late, and you can expect a drink thrown in your face, and a low credit score.
Timing is everything.
If you’re not ready for a relationship, it will fail before it starts. The same goes with having credit. Don’t apply for credit cards or loans if you’re not in a place where you can pay them back. People hate to be lead on, and so do creditors. The difference; one hurts your feelings, the other destroys your credit score.
Build the right type of reputation.
Don’t be that guy or girl known for being a heartbreaker, be the one that got away. When it comes to your credit score, build that same reputation. Have a credit score everyone envies. Pay your bills on time, and try to pay off your balances at the end of each month. Don’t build a negative reputation for yourself, it will follow you throughout your financial, and personal life.
Building a strong credit score is hard, but at the end of the day it all pays off when you’re ready to take the next step, and commit to a mortgage with the one you love. 🙂
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