RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

7 Easy Ways to Watch Your Credit Scores Soar

July 7, 2017 12:51 am

On the widely used FICO credit score scale, only one in 200 consumers reaches the pinnacle: a score of 850 – a score that has lenders fighting for your business and nets you the best possible interest rates on everything from automobiles  to mortgage loans.

In fact, according to Fair Isaac, the company behind the FICO score ratings, consumers who achieve a score of 750 or more are excellent candidates for favorable treatment.

But paying your bills on time and carrying no balances may not be enough to catapult your score to desired levels. Consumer finance experts at The Motley Fool offer simple tips that can help boost your scores into the stratosphere:

Ask for increased credit limits – Not because you plan to use them, but because the higher your credit limits, the less likely you are to use more than 30 percent of your aggregate credit, which is what lenders look for when they judge credit-worthiness.

Ask for lower interest rates – If you are carrying a balance, a lower interest rate can save you big bucks and help you pay it off faster – and if you pay on time each month, a request for a lower rate is granted more often than not by lenders who want to keep your business.

Keep 0-balance accounts open - Some consumers think that closing paid-off accounts will help your credit score. In fact, accounts in good standing that are left open for an extended period can help your overall score. Use them once or twice a year to ensure they stay open and aren't closed by your lender for lack of use.

Open new accounts only when it makes sense – People with good credit are constantly offered more credit. Open a new account only for a large purchase you expect to pay off quickly. Don’t open a store account to save a few bucks on a small purchase.

Focus on revolving debt first – If you carry balances, remember that revolving debt, such as department store credit cards, charge the highest interest rates – and FICO notes what kind of debt you carry.

 Check your FICO score annually – You can do so for free from each of the three credit reporting bureaus. Failing to check them annually risks not discovering errors before your scores are adversely affected.

Published with permission from RISMedia.


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How to Live in Harmony with House Guests

July 7, 2017 12:51 am

While you’re really looking forward to having out-of-town friends or family for an extended visit, you may be anxious about living under the same roof with your guests. There are some effective ways, however, to relieve the stress and enjoy your time together.

Create a private space. Whether it’s a guest room or the sofa bed in your office, devote a room or area of your house just for your guests. Have your kids double up to free up a bedroom, if need be. This will give both you and your guests the privacy and space you need. Outfit the guest space with items your visitors may need, such as towels, travel size shampoos, soaps and toothpaste, a reading light, phone charger, extra blanket, fan or heater, and a pitcher for water.  Not only will this create an inviting bed-and-breakfast atmosphere, it will save you a little running around trying to find random things they may have forgotten.

Discuss the morning schedule ahead of time. Are your guests early risers or late sleepers? And how will this conflict with the schedules of you and your family members? Get it all out in the open before you retire on the first night to figure out a schedule that’s convenient for everyone.

Stock the pantry and fridge with essentials. Be prepared by shopping for the items your guests may need in advance, such as almond milk for your vegan sister or sugar substitute for your diabetic aunt. Not only will this save you from last-minute runs to the store, it will make your guests feel welcome and at home.

Plan meals. Avoid dinnertime stress by mapping out and shopping for meals in advance. Plan which nights you’ll cook out, eat out and order take-out. Make a big batch of soup, spaghetti sauce or a casserole and freeze them a couple of weeks ahead of time. You can then pull these out as needed for last-minute meals.

Forgive the mess. Don’t stress out about keeping the house spotless. Your guests are there to visit with you and your family, not evaluate the cleanliness of your home. So have the family chip in and conduct a thorough cleaning before your visitors arrive, then enjoy each other’s company while you’re together.

Published with permission from RISMedia.


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