23 Aug Holly Walther Team Fun Fact Friday: Only Apply for Credit When Needed (#4 Credit Component)
Hey, good afternoon and happy Friday. It’s Holly and little Miss Daisy who’s taking her afternoon nap. And we are here with your Fun Fact Friday; which is our credit tip number four: New credit. Did you make note – it makes up for 10% of your credit score. Um, so the advice here is open credit as you need it. Um, don’t go out and open multiple cards at one time because then that makes you look like you’re in a desperation mode. It can actually decrease your credit score. Don’t close those accounts that you’ve had a very long time. Cause remember the length of credit is 15% of your score. So we want to make sure that you’re not closing accounts to open new accounts and only open those accounts as needed. If you need some more personal information about – or advice with your scenario, please don’t hesitate to give us a call at the office and we would love to talk through your personal situation. So that’s all we got today. Have a wonderful Friday!