Credit Scores Remain Central to Fort Worth Real Estate Dealings
If you’re a typical Fort Worth consumer, like most Texas residents, it wasn’t too long ago that you were being constantly bombarded by offers to let you in on a secret: your credit score. The “free credit score” ads got a lot of responses, but lately, they’ve grown scarcer. I think I know why.
It used to be that thrift-minded people shied away from plastic because it made overspending too easy. Today, ubiquitous credit card bonus points and associated discounts and freebies make the opposite true. After all, taking a vacation without using at least some of your credit card airline “miles” or hotel “points” seems more careless than thrifty.
And the fact is, you don’t have to use the credit part of credit card purchases: if you’re careful, you can pay off the balances before interest starts to accrue. And there’s a major additional benefit to conscientious attention to of all your credit accounts— that is, the credit score dimension.
For many years, credit scores seemed a sort of hush-hush affair. That was before initiatives by the Consumer Financial Protection Bureau and the Fair Isaac Corp (FICO) changed the rules of the game, making it mandatory to allow free access to your credit scores. Even so, it was still a bit of a hassle to get to see them—and the “free” access was limited to once a year.
But that’s been changing. Today, many credit card accounts include free access to the FICO credit scores associated with them. If you use the card issuers’ online account systems, you’re usually just a mouse click away from your most recent score. Apparently, the banks behind the cards know it’s a good way to make online bill paying more attractive than snail mail—which is a profit saver for them. At last count, by April of last year more than 150 million accounts included the instant credit score feature.
What that means to Fort Worth real estate transactions is a solid positive. When Fort Worth consumers can keep a steady watch on their credit scores, they are much more likely to notice FICO mistakes or any of their own inadvertent slip-ups. The scores affect the interest rates associated with their credit card accounts—but they also heavily influence the offers they can expect from the mortgage underwriters.
I recommend prequalifying for a home loan: it’s one of the best ways to make your offer the winner in a multiple offer scenario. For other ideas that give you a head start when it comes to buying or selling Fort Worth real estate, just give me a call!
Author:Dakota Joyner Phone: 817-793-5941 Dated: May 15th 2017 Views: 253 About Dakota: Dakota, a proud lifelong Metropolex resident, has intimate knowledge of the diversity, culture and c...
I'm Von Gipson, (Residential MatchMaker). I pair people with the perfect home "Right Size" their life. As a 10 year experienced Licensed Texas Realtor and Naval Veteran I serve families of Collin County in North Texas. I will locate, negotiate, and navigate the Process and Pitfalls of Buying and Selling a home. My decade of unique connections, business savvy and high tech tools put my clients in a position of power whether Buying or Selling.
Prior to becoming a Realtor, I had a very successful career in the Healthcare Industry as a Physician Recruiter. Tasked with locating the best Surgeons across the country, partnering with Hospitals and Operating Centers across the country gave me the opportunity to understand the factors that are apart of making Life Changing decisions and finding the appropriate solutions for all parties. I've negotiated salaries, home purchases, partner packages, and coordinated relocation for my clients. Throughout my time as a Physician Recruiter the "One Thing" I took away is people are fundamentally the same, we are all trying to either Avoid a Loss or Create a Gain and finding the Harmony between the two is where success lies. Your next Home Buying or Selling experience deserves to be Smooth as Silk. Trust Von, I'm smooth as silk.