2011 is ALMOST HERE!

One week left before 2011, what is going to make the difference from 2010? Start by working on your credit. One good way you can do this is by paying down your credit card debt. Of course that makes sense, but what does that really mean? If you want to maintain your credit and keep your scores up as best you can keep your balances at 30% of the available max. For example, max available is $10,000, keep the balance at $3,000 (30%) will help your score. Having a good mix of credit is also important. Meaning revolving and installment loans, secured and non secured. I'm not saying go out and rack up debt to make your credit perfect, but be mindful of what you are doing? Does it make sense to open a department store credit card to get the 10% discount and have the inquiry and a high rate or to use your credit card from a major bank with a better rate? If all else fails, that good old cash is usually best. My main point is in this short and sweet blog today?!?! Manage your debt, treat it like a business transaction and DO NOT be afraid of it! Your credit is very important! 79% of credit reports have an error! That's 8 of 10, look around in a store and most people have an error. 25% or credit reports contain an error serious enough to deny lending! That's 1 in 4 and 50% of employers pull your credit to weed out candidates. Bottom line, DON'T be DUMB! Learn your credit and learn how to improve it! Good luck in 2011 my friends!