Trying to improve your credit scores so you can purchase a home? One of the first things you can do is pay off credit card debt. If you have several accounts, which one are you going to pay off first?
Most people would tell you to pay off the account with the highest interest rate. “The math seems to lean more toward paying the highest interest debts first, but what I have learned is that personal finance is 20% head knowledge and 80% behavior. You need some quick wins in order to stay pumped enough to get out of debt completely. When you start knocking off the easier debts, you will start to see results and you will start to win in debt reduction.”
See the idea is to get into a habit that you can continue. If you have other questions about paying off credit card debt (which really is one of the fastest things you can do to raise scores) contact Steve and Eleanor Thorne, Mortgage Banker in Cary , 919-649-5068.
Dont forget that one of the best things you can do – if you have really super low scores (and I know it goes against what this post ) is to open a Secured Credit Card