MICHAELA TO - Bay Area Real Estate
  • Home
  • About
  • Buyers
    • Search Homes
    • Buyer's Guide
    • Mortgage Calculator
    • Schools
  • Sellers
    • What's Your Home Worth?
    • Seller's Guide
    • Compass Concierge
  • Reviews
  • Market Data
  • Blog
  • Contact

House the Market?​

Giving Credit Where Credit is Due

2/12/2020

 
Picture
FICO just announced a new scoring system that could change your credit score. The majority of people (110 million people, to be more exact) will only see a 20 point difference, if that. About 80 million will see a much more significant change in their scores. Bullet points below for easier explanation.
  • Your credit score will most likely drop if you: 
    • Have a score of under 600
    • Have a high amount of credit card debt
    • Recently missed payments
  • Your credit score will probably go up if you: 
    • Have a score above 680
    • Don't carry high balances 
    • Don't take on personal loans
    • Always make on-time payments
While our economy is experiencing record-breaking growth, consumer debt is still at an all-time high and lenders no longer want to take on unnecessary risks. This change allows them to make more informed decisions aka be pickier about who they lend their $$$ to. 

Moral of the story is this: Minimize your debt and always pay on time to increase your chances of qualifying for a credit card, home loan, and/or a decent date! 
​

Comments are closed.

    Michaela To

    All things real estate. 

    Contact Me

    Categories

    All
    Affordable Housing
    Bay Area Market
    Berkeley
    Commercial Real Estate
    Condos
    Current Events
    Inflation
    Interest Rates
    Investing
    Just For Fun
    Lending
    New Development
    Oakland
    Real Estate Market
    Rental Market
    San Francisco
    Silicon Valley
    Single Family Homes
    Technology
    Transportation
    Walnut Creek

    Archives

    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    April 2016
    March 2016
    February 2016
    November 2015
    October 2015
    September 2015
    August 2015
    June 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014

MICHAELA TO
510.266.2802
mto@MichaelaTo.com
6211 La Salle Ave. Oakland, CA 94611
DRE# 01883913
Picture
Copyright 2022. All rights reserved.
  • Home
  • About
  • Buyers
    • Search Homes
    • Buyer's Guide
    • Mortgage Calculator
    • Schools
  • Sellers
    • What's Your Home Worth?
    • Seller's Guide
    • Compass Concierge
  • Reviews
  • Market Data
  • Blog
  • Contact