Here Is How To Save Your Credit Score Through The Holidays So You Can Buy A Home In The Spring

Dated: 11/01/2016

Views: 304

The holidays may seem far off, but when the possibility of securing a home in the spring is on the line, the time to plan is now.

There isn’t much time before the malls get flooded with busy holiday shoppers. And for the yearlong planners. The shopping season probably started a long time ago. The importance of making sure shoppers don’t destroy their credit score right before the busiest home-buying season.

Credit cards are the main area where consumers hurt their credit score during the holidays.

Here are some suggestions for consumers:

First and foremost, if you apply for a new credit card or higher spending limits on existing cards for the holiday season, the card issuers will probably request your credit score from one or more of the national credit reporting agencies.  The same is true if a new car is on your shopping list or if you choose to open a store credit card.  Just as they would at any other time of the year, those score inquiries from lenders can cause a dip in your credit score.

The shopping-season strategy here is twofold: You want to maximize your credit score before applying for this holiday-related credit, and you want to avoid having these holiday loans lower your score in advance of any major borrowing you may be planning in the early months of the year.

Blog author image

Steve Humphries

Steve Humphries, Broker & Co-Owner of EXIT Realty Champions, has been in the real estate business since 2004. Collaborating in business and life with his wife and fellow broker, Deirdre Lucey-Humphrie....

Latest Blog Posts

The 1 Reason It Is Difficult To Find Your Dream Home

The #1 Reason It Is Difficult to Find Your Dream HomeThe headlines in real estate today all revolve around one major point: there is a shortage of homes available for sale. Price appreciation

Read More

Four Tips For Selling Your Central Florida Home In A Hurry

Four Tips for Selling Your Central Florida Home in a Hurry.One of the good things about the Kissimmee real estate market, if you are a homeowner, is thatthere is always someone looking to buy. Even

Read More

A REAL STEAL BALMORAL RESORT TOWNHOME IN THE DISNEY AREA FLORIDA

  Resort Style Living in this beautiful 2 story fully furnished townhouse on the private, gated  Balmoral community on Hwy 27 close to Legoland and easy access to the

Read More

Choosing Your First Home

Can I Afford the House I want?One mistake young homeowners make is overextending themselves on the price of a house. They can look at what a monthly mortgage payment can be and decide that if they

Read More