Judith Sutton ABR CRS IDS PMN ASP IAHSP SRES GREEN
Judy@JudithSutton.com 908 803-0472
EXPECT MORE
YOUR CREDIT SCORE IS IMPORTANT!
Is a score of 800 on your credit report rare?
There are relatively few scores over 800.
Why, you ask?
The primary reason more people don't have higher credit scores is that they have high credit card balances. Credit utilization, the balance on a credit card expressed as a percentage of the credit limit, is second only to the consumer's payment history in the calculation of the FICO score. Payment history makes up 35% of your score, but credit utilization is a close second at 30%.
When your balance exceeds 30% of the limit, your score starts to drop. A single credit card with 30% utilization will cost 15-20 points. The effect is cumulative for multiple accounts.
You should ideally pay your credit card balances in full each month. Otherwise, you are paying 18%-36% interest on those balances. Why would you want to do that?
The “sweet spot” for credit card balances is no more than 10% of the limit. If you habitually carry a high balance, you are wasting money and losing points on your credit score.
Consumers with high scores (775+) have these characteristics in common:
They have a flawless payment history for at least the past two years.
They have at least four active trade lines (accounts).
They have more than one type of credit—installment loans, mortgages, credit cards.
They have very low balances on their credit cards. Most habitually pay their balances in full each month.
They have had some of their accounts for a long time: four years or more.
If you are struggling to optimize your scores after a rough period, take heart. A history of late payments has less effect on your scores as it gets older. A single late payment has very little effect on your score after about two years. You can start today to raise your scores if you wish. There's no time like present to put your financial well-being in order! Need more information? My financial team is here to help. Call me anytime and I will guide you as your trusted advisor.
By incorporating my personal attention and guidance into the marketing strategy I aim to provide you with
an Exceptional Selling Experience
while ensuring that your property receives the exposure needed
to attract buyers from anywhere
Your Local Real Estate Connection
Get a positive, helpful partner for buying or selling your home:
Trusted resource for answers about the process
Innovative marketing strategies
Expertise about neighborhood features
Ability to target home searches
Strong negotiation skills
Support through the closing and beyond
Why would you settle for anything less?
Adding value for my clients and loving where we live!
Judy@JudithSutton.com
COLDWELL BANKER...GUIDING PEOPLE HOME SINCE 1906
908 803-0472
"...the right relationship means everything..."
SERVING THE SOMERSET HILLS AREA ONE CLIENT AT A TIME
Service & Experience
since 1983