Paid Off the Card? Don't Close it Yet

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Paid off a credit card? Congratulations—but don't automatically close the account.

Here's something many future homebuyers don't realize:

Closing a credit card can reduce your available revolving credit. That can increase your overall credit utilization—and credit utilization can affect your credit score.

The length of your credit history can matter too.

That's why I tell future homebuyers not to make major changes simply because something sounds like good credit advice.

If you're thinking about buying a home in the next few months, let's develop the mortgage plan before you start changing your credit profile.

Sometimes the best move is making a change.

Sometimes it's leaving things exactly as they are.

For more information Click Here

Robert “Rob” Clark | Home Loan Consultant
Firestone Financial Group
209-227-7745 | 559-476-9279
rbrtclark53@gmail.com
robertclarkloans.com

Robert Clark | NMLS #357788
Firestone Financial Group | NMLS #301522
CA DRE #01148307 | Equal Housing Lender

Educational information only. This is not credit-repair, legal, tax, or financial advice. Credit scoring models and mortgage requirements vary. Credit-score changes cannot be guaranteed. Not all applicants will qualify.