While lenders ultimately consider several factors from your credit report when evaluating you as a borrower, the first thing they see is your credit ratings. In fact, many lenders rely on FICO scores to pre-screen borrowers for credit offers, so if you’ve got low FICO scores, a lender may never even look at your credit report. If you want to get the best credit offers, you need to understand your credit score. If you’re thinking of buying a car or a new home, you need to know what your credit says to lenders. Are you a good risk? Can you get a decent annual percentage rate?

What are credit scores, and why are they so important?

credit scores are a method of determining creditworthiness created by Fair Isaac and Company; hence the name credit ratings. credit scores take the information in your credit report and boil it down to a number, somewhere between 300 and 850, depending on your credit history. FICO scores are reported by three major reporting bureaus; TransUnion, Experian and Equifax. It’s possible to have three different FICO scores with the three different reporting agencies.

Lenders use your credit scores to determine how likely you are to repay your credit. Some lenders don’t even offer credit to borrowers with low credit scores, using the data to pre-screen potential borrowers. If you do have low credit ratings, chances are good that you’ll get a higher interest rate or smaller loan amount or credit limit, or be ineligible for credit.

It’s all a numbers game; how credit ratings are determined.

Your credit history is evaluated and assigned a score, based on a model similar to your credit history. While Fair Isaac and Company declines to release information about these models, financial industry insiders report that there are literally thousands of potential models for your FICO ratings. By changing your credit history, such as disputing an inaccurate item or closing a long-standing account, you can potentially change the model under which your FICO rating falls. Sometimes this increases the credit scores, but it can actually lower the credit ratings if your new model is less favorable, or if you perform differently under the new model compared to other people within the model.

Getting your FICO rating.

If you’re thinking about taking out an auto loan or buying a home, you should start by getting your FICO scores. While some states are entitled to a free copy of their credit report once a year, these free reports do not include credit ratings. You can purchase a report containing your FICO scores directly from the reporting bureaus, or you can sign up for a credit monitoring service that includes access to your credit ratings. With the increasing threat of identity theft, many banks are now offering privacy protection services, which you can use to monitor your credit report on an ongoing basis and ensure no fraudulent activity occurs. Many of these services bundle FICO scores into monthly or quarterly reports.

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Your credit score is an important feature of your financial shape. This impacts your financial transaction too, especially if you want to submit an application for a mortgage loan. In case you have a fantastic score, then your claim will most likely be permitted. In addition to that, you will also have better conditions. The interest rate you’re going to get is lower, which indicates that your mortgage is going to be much more affordable matched against those with bad credit.

Causes of low credit scores:

The leading reason why your credit score is low is for the reason that you are overdue with your payments, or worse, you did not straighten out your monthly obligations. In some circumstances, scores are usually low even if you are up to date with all your payments. This is maybe caused by information, which is mistakenly recorded in your credit report. It is also that you have mismanaged your credit and have utilized it up. Your new credit and your debts will also have an effect on your credit score.

So what do you require to do to enhance your credit score? Here I will discuss a few tips:

• The very first thing that can be done is to obtain a copy of your credit reports. You are usually entitled to a free copy once every twelve months, so make the most of this. After getting the facts, examine the info entered and see if these are accurate. If there are mistaken data in the report, highlight and sort out them. File for a dispute to have them corrected. Do this even though you aren’t about to apply for a loan in the near future as having your credit score corrected take time.

• See to it that you will be timely in all your obligations. When you’ve got missed any payment, get current straight away. If you think that you’ll be late with your payments for the reason that of financial complexity, then talk to your lender prematurely. He can almost certainly assist you to by way of making adjustments.

• Pay up some of your amount overdue. This is exactly especially true if you have plenty of amount overdue. As often as possible, don’t acquire a new debt if you have not reduced your present duties yet. Paying up your debts will not only increase your credit score, it will even make it less complicated for you to pay up your outstanding debts in the future.

• Keep your bank card balance at a minimum. Do not exploit your card if you do not need it. In the event you do this, you will be able to pay off your credit card balance and can do away with the interest and focus more on other credit difficulties.

• Most significantly, control your accounts better. Request for a loan when you really need one and make certain that you have the resources to pay them. Examine what you might be generating and match up to it with your monthly payments in the foreseeable future if you ever get the loan. Appropriate management will not only enhance your score, it can even give you less things to worry about.

Your credit score is essential, which is why you might want to take care of it and expand it when it is low.

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Adding positive credit to your credit score is essential in building up a good credit score and avoiding rejections and embarrassment from creditors when seeking loans. Some people had the misconception that being debt free automatically gives you a good credit score, on the contrary, a lack of no credit history simply means you have no record of payment giving you a low credit score. Use the following to carefully build up a good credit score.

*Go out and obtain easy credit from sources like stores that give credit with little regard for an individual’s credit reputation. Creditors consider a lack of credit history as poor credit history. You are a risk to creditors if you have no past history of credit to judge you. Examples of creditors that can extend credit to those without much credit history are: credit unions, easy credit auto dealerships, tire stores, jewelry stores, furniture stores, appliance stores. In order for this to be effective, you have to ensure that the company reports to the credit bureaus as some of them do not.

* Be sure to pay obtained credits on time. This is very important as creditors always check to see how timely you were in paying your past debts in considering you for future dealings. This also tells on your credit report thereby also affecting your credit score. Late payments causes you late fees and increased interest rate.

* Ensure you keep your accounts active and try to maintain a balance in your account. A dormant and empty account presents a person as a credit risk to creditors who wouldn’t hesitate to turn you down. It will be to your advantage if you can have a monthly activity in your account.

*Be a co-signer to someone with a good credit. You should be sure that he or she does not have excessive debt in his file. If you are able find someone that trusts you to do this, they can request for you to be a co-signer on their card, thereby allowing you to share their positive credit history built overtime as it will show up on your credit file.

* Obtain a secured card if you can. This is a service that some banks offer now. Your present or past credit standing does not matter when applying for this because you will be depositing funds in the bank to secure the credit line on the card that is issued. When you obtain a credit card you should ensure that it’s not listed as a secured card to the credit bureaus as this can be very unhealthy to your credit.

* Reduce as much as possible the frequency at which you apply for your credit report. Also, don’t allow prospective creditors to pull your credit report unless it is crucial to the issue at hand.

* Keep all your credit card balances low. A high credit balance or too much available credit is damaging even if you pay your bill as at when due. An individual’s credit score is greatly influenced by the amount of available credit used. Try not to go beyond one half of the credit card’s limit.

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Loan modifications are all over the place. There are many questions surrounding them and what the effects on credit can be.  This article answers some of the questions that may come up.

How a Loan Modification Affects Credit

By Kevin Redmon

A loan modification may be the solution for many homeowners to avoid foreclosure proceedings. The process involves negotiation on a loan in which the lender and borrower agree to adjustments on the original mortgage terms. The outcome of this form of negotiation can include lowered monthly payments, a reduced interest rate and even a lowered principal loan amount. The loan adjustments may be temporary or permanent, depending on the individual homeowner situation.

Credit damage will invariably turn up as a question for many homeowners seeking to prevent foreclosure. The following answers questions about whether a loan modification may affect your credit profile and what you can do about it.

Loan Modification, Credit Damage and Delinquent Payments

Credit damage is not the direct outcome from this form of loss mitigation negotiation. In fact, credit damage is usually the consequence of delinquent loan payments or failing to honor the original loan terms. Many homeowners already have negative marks on their credit profiles due to late and missed payments.

Loan Modification, Credit Damage and Principal Reduction

In some cases, loss mitigation negotiation may include a reduction in the principal amount due on the mortgage. Depending on the financial institution, some lenders may report the lowered loan amount as “paid less than full balance,” or something to that effect. While an unfavorable report, negotiation on a loan that leads to a principal reduction can often signal to future lenders the commitment to resolving a tough financial situation and taking steps to repair credit, especially when delinquent loan payments are already a factor.

Prevent Credit Damage With Professional Loss Mitigation Negotiation

In order to get the best outcome, loss mitigation negotiation should be carried by qualified loan modification companies. Reputable loan modification companies can successfully pilot the entire loan negotiation process, including the manner in which your lender reports the agreement to the major credit bureaus. A qualified loss mitigation specialist can bring a loan modification to terms on your behalf and negotiate to protect your credit profile.

Preventing foreclosure with loss mitigation negotiation is often the best way to avoid considerable damage to your credit rating. A professional firm can help protect your home, recover your mortgage situation and get you back on track.

Kevin Redmon covers loss mitigation negotiation articles for the website M3 Strategy, specializing in mortgages, loan modifications and short refinancing through their Finance Blog.

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There are many programs offering to help you build your credit, but you don’t need to pay for a service.  There are simple and easy ways to build your credit  fast.

How to Build Credit – The Easier and Faster Way

By David Kamau

The question as to how to build credit is paramount for people who have no credit. Just as a side note, building credit is not the same as rebuilding or restoring credit. What’s the difference?

Well, building credit means that you have never obtained any form of reportable credit or loan. Your credit file is either shows no activity or is non-existent. It can also mean that your credit is slow and needs to be built up. In other words, you’re starting from scratch or near scratch.

Rebuilding, restoring or repairing credit means that you previously had established some form or other of credit, but now you have negative items on your report, along with the commensurate low score. In other words, your history is tainted or damaged.

This article addresses the first two situations (starting from scratch or near scratch).

Everyone needs to start building credit at some point – that is unless they have chosen a hermit or other atypical lifestyle. And the good thing is, starting out isn’t that difficult.

Getting approved for that first credit card can seem like an overwhelming task. When you apply for first time, they check to see if you have credit (a catch 22 of sorts).

But today some lenders make it easier for your first time. If you have applied for a few credit cards and were turned down, don’t worry. A little change of strategy will almost certainly put plastic in your wallet in no time.

One common mistake that people tend to make when applying for credit cards is applying for the incorrect card, that doesn’t fit their situation. The major cards like Visa, Master Card, American Express and Discover can prove difficult to come by for the first time card applicant.

But finance cards are much easier to get. Finance cards are issued via a store or franchise, and can only be used at that business or its affiliates. Some finance cards, for example, include Target, Best Buy and Sears cards.

Other easier to get credit cards are those issued by gas companies.

Though finance cards do not carry as much importance on your credit report as a major credit card, they are a good way to start out. It shows responsibility for a new card holder.

College students are luckier in that sometimes get credit card offers at school, often from more reputable companies with better rates and conditions. The companies even offer incentives such as free lunch for applicants. Why do they do this?

Because a college student is likely to get a well-paying job once they graduate. The company is investing in you today to get your business tomorrow.

If you still find it difficult to get a finance credit card you may want to consider a secured credit card.

Secured cards are issued based upon a deposit you make as the credit limit. It may sound strange to some to pay $500 to get a limit for a $500 credit card, but a secured card can be a major positive impact on your credit report.

When applying for a secured credit card, keep two things in mind: that the card will still report your credit limit and, depending on the creditor, the card might not show up as a secured on your credit report.

It is essential the issuing company reports your credit limit. This is because of the way credit scores are calculated. To score well, your debt to limit ratio should be less than 30% on revolving accounts.

Also note that if your secured card doesn’t report the credit limit, the credit reporting bureaus will use the total amount charged as the credit limit and this will look as though your debt to limit ratio is 100% (not good).

Additionally, it is extremely important to make sure your card is not reported as a secured. Ask before signing on the dotted line. If your credit card company reports your card as being a secured card, this will impact negatively on your overall score.

Another way to go is by taking up offers of pre-approved cards that come via junk mail. The downside with these is that the limits offered are usually low ($300 on average) and there are upfront and annual fees involved. The upfront fees can eat up your most of the allowed limit therefore you end with an almost fully secured credit card.

If you choose to go the pre-approved way to build your credit, be aware that some of those companies have been known for some questionable business practices and even trickery. Read the fine print carefully or ask a knowledgeable friend for help.

Download a FREE insider report that shows you easy and quick credit building steps and strategies. David Kamau had rebuild his own credits and offers credit building tips on his site.

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Did you know that your credit is affected by your gender?  It’s true.  Here are some tips for woman to help boost their credit. Some of the tips can apply to men as well.

Five Things Every Woman Should Know Before Signing Any Credit Application

By: Jay Peters

If you are married (or plan to be) I will share with you five vital keys every married person should know before signing any credit application.

VITAL KEY #1: According to the Federal Equal Credit Opportunity Act (FECOA) creditors cannot deny consumers access to credit because of their sex. However, on average (in surveys) it’s reported that women earn less money than men. Regardless of what the FECOA states, the relationship of credit to income is very strong.

In our society if you make less money you will get less credit, period. The sad fact is that women on there own have less access to credit. It’s for this reason (I believe) it is imperative that women learn and acquire more knowledge about credit than men. Knowledge is power; and in the world of credit that knowledge will often times prove to be priceless, especially for women.

VITAL KEY #2: If you are a married woman with JOINT credit (meaning all your credit accounts are jointly held with your husband) you have NO CREDIT yourself. Many women in America find this out the hard way every year when they get divorced and lose all their credit privileges since all their accounts were jointly held with their spouse. If you are a woman in this position you can greatly benefit by beginning to build your own credit in your own name starting today! The benefits are two fold.

1.) If your spouse has financial difficulties (for any reason) and is forced to file bankruptcy or their credit becomes derogatory, you and your spouse will have your credit in reserve to survive on.

2.) If you ever get divorced down the road (over 50% do and 76% in the state of California) you will NOT end up in financial hardship due to no credit and/or derogatory credit. Instead, you will have your credit to transition to and (believe me) this can be the difference between sailing off in the sunset or drowning in a storm.

VITAL KEY #3: If you are currently married (with some credit or no credit) to a spouse who has excellent credit, you can leverage their credit to build credit in your own name much faster than if you had to build it by yourself. Later, once you have established enough accounts on your own, you may choose to cancel accounts that were held jointly with your spouse.

VITAL KEY #4: If you are a single woman with excellent credit and are getting married you may want to think twice about adding your new lover to all your credit accounts. If he messes up or you end up in divorce down the road your credit will end up taking the beating (regardless of how many years you diligently spent building it up). For this reason, I strongly suggest married couples keep their credit separate. Why?

In most cases spouses have far more to lose than to gain. Naturally, some credit will have to be joint no matter what you do. If you purchase a home (which may require both incomes to qualify) this will appear as a joint account on the credit report. However, the potential abuse with a home mortgage is almost non existent as opposed to Credit Cards.

VITAL KEY #5: Spouses have more to gain by each building strong individual credit reports rather than joining all accounts and building one joint report. For obvious reasons, banks and credit card companies love the “credit ignorance” of spouses who join all their credit accounts upon marriage.

Here’s why: If you take 500,000 couples with credit before they got married, those 500,000 couples actually represent one million credit accounts and liabilities for the banks and lenders. When those couples got married, those one million credit liabilities were instantly were cut in half from one million to only 500,000. For banks this is a very advantageous situation. For the couples getting married (if they have financial trouble) the deal is a little raw. If they have trouble, although they are two people, they are represented by only one credit report. The bank now has the right to go after two different people for one account (regardless of who was financially negligent).

For moment, let’s play out the same scenario with a couple which is financially savvy (note: they’re both on the same “team” but financially savvy). In this scenario, the couple gets married, but instead of joining account each builds their individual credit reports. Now this couple (team) has not one credit report representing them but two. Metaphorically, if the perfect storm (financially) is to rise, this is the difference between the couple being in the ocean with two ships instead of one. If the one ship starts to sink, the couple can always “jump ship” to the second.

While some may criticize this thinking it is no different than buying any kind of insurance. You buy insurance not because you plan on a problem. You buy insurance because you are thinking ahead. This type of thinking is no different. However, if you want to be ahead of the pack that you need to think ahead of the pack.

I cannot tell you how many times I have talked to loving married couples in financial trouble who only WISHED they would have known about these five vital keys before they got into financial trouble. Take them, study them, apply them to your life. As I heard one woman put it “In business and in life I’ve learned to expect the best but plan for the worst”. I thought her words were brilliant. However, I have found that when I expect the best… many times I tend to get it! Take these five vital keys. Study them. Apply them. Then pass them on to someone else who can benefit from them.

About the Author

Jay Peters is the founder of Consumer Education Group which publishes the Credit Secrets Bible (in print since 1994). To receive Free Credit Tips including “how to get your credit reports for free” visit their website: http://www.TruthAboutCreditRepair.com

For media inquiries or interviews Jay may be contacted at (928) 848-1400 or email: JayPetersOnline@yahoo.com

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Short sales can hurt your credit. I have heard real estate agents say that it doesn’t, but that is not true. This article explains what happens.

How Much Damage Can a Short Sale Make on the Credit Score?

By Rose B

The Obama Mortgage Modification Program is not helping a lot of homeowners keep up with their mortgages. This is because a lot of people do not qualify for such assistance. As a result, more and more homeowners are going into foreclosure. Before going into foreclosure, though, you have to know first how the process works and what its effect is especially in your credit score. After you have all the information you need, you can now delay the foreclosure process for your advantage.

Two of the most important elements you need to know regarding foreclosure are the processes involved and the amount of time it will take to complete it. The time frame of the foreclosure process differs from city to city and state to state so a careful research is in order. Time frame also varies depending on the lending firm you owe your mortgage loan to because different companies have different rules and regulations. Another factor to consider is the type of loan you have.

When it comes to foreclosure proper, it has the same regulations anywhere you are in the US for it is covered by the State Law. The State Law is considered as Federal so it applies for the most part of the US. If you are doing your research, you can go to your bank and ask for the detailed steps or procedure they must take to foreclose a property. In general, if you missed out on three consecutive months after your last payment to them, the banks are forced to file for the foreclosure of your house through the courts.

After your lending company took the matter to the courts, it is only a matter of time before you receive a mail informing you of the situation. Do not ignore this warning because it will only make the matter worse. The best thing to do after receiving the foreclosure notice is to go immediately to your lending firm and negotiate with them. Ask them to give you other options in order to save your house.

You have the right to request for a court hearing regarding your case and you can file it in the Circuit Court of the county you live in. This is a good delaying especially for courts that has a lot of case on their plate. The hearing could delay your foreclosure process from two weeks up to a few months.

Most of the time, the hearing result will be a denial for your part. The denial rate for foreclosure court hearings is a whopping 95%. Another option in this situation is to file for bankruptcy. This would delay your foreclosure process even more. Even so, bankruptcy can cause a lot of damage to your credit score so better think twice first before going for this option.

Another option available is short sale. This will cause less damage to your credit score and credit report as well

Now, if you just decide to submit to the foreclosure, you will be given one to three weeks to vacate your house else the local authorities force you out of it. If you are trying to search for prospects of wonderful real estate properties, you can check out See Scottsdale Houses for Sale or visit Real Estate in Scottsdale.

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When you are starting out in the world it is important to also start building your credit. Students must be careful,  however, because many credit card companies target students and this can become overwhelming.

4 Reasons Students Should Build Credit

By Tom Tessin

The moment you hear the word “credit’, everyone tells you to stay away. Why is this you might wonder? It’s the easiest question to answer. The people that tell you this are the people who can’t control their spending and have learned the hard way. Many people can benefit from credit cards. Sadly, there are people out there and a lot of them that just don’t know how to use them. If you’ve never tried or used a credit card before, maybe it’s time you tried. If you find you can’t use it, simply just dump it. Today, I’m going to explain a few reasons on why credit can benefit you.

Credit helps with future loans

Being in college means you’re pretty young (hopefully). I’m sure in the near future you’re going to want to buy a home, a nicer car, and possibly get a loan for something around the house. How do you think you get all of this? You’re going to have to establish credit. Establishing credit isn’t that hard at all. It just takes one credit card and all you’ll need to do is make a few purchases and pay it off in full each month to establish a great credit score.

Take advantage of the rewards

Credit cards offer a lot of rewards. From saving on gas to saving on your next grocery shopping visit, you can benefit from it all. The only way you can benefit from this is by paying your bill off in full each month. If you fail to do this, you’re not going to benefit because the interest is going to be applied to your unpaid balance.

Allows you to earn more interest on your money

If you’re a big investor or you’re really good with your money, a credit card is a great way to help you keep your cash on hand a little bit longer. Instead of making that purchase with cash, you can hold onto that money for thirty days longer. Say you keep your money in a money market, that money can collect interest while the credit card companies pay. Simply pay off your bill and you’ll be collecting interest and rewards at the same time, how can it get any better?

Feel protected

When you carry a credit card, you can feel a lot safer carrying around your wallet. With so many companies accepting credit cards, there’s no reason to carry cash. So, if you lose your wallet or for some reason, you get mugged, you have no worries on losing any of your belongings. Simply, cancel your credit card or if they make purchases, you won’t be responsible.

If these four points can’t grab your attention and motivate you to apply, then a credit card might not be your cup of tea. A credit card does have many rewards and don’t let other people talk you out of it. Remember, these are the people who can’t control their money. As I mentioned before, try out a credit card and if it doesn’t work out, stick to cash!

Tom Tessin is an author for FINDcollegecards.com that is geared toward students looking for a student credit card

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Your credit report from the three credit bureaus is important to keep up to date and accurate. Here are some things to look for inside your credit report.

The Importance of Keeping an Eye on Your Credit Bureau Report

By Jon Arnold

Your credit bureau report is perhaps one of the most important financial documents you can have. It shows everything in regards to your credit history from applications to how well that credit is managed. It is designed to provide information on all credit based activities. Keeping an eye on your report to make sure that there are no mistakes is essential.

There are numerous ways that credit reports can obtain information that is inaccurate. This means that it is possible for your credit report to have errors that could be holding you back. Keeping track of your credit report and what is one also helps to ensure that you are protected against fraud and identity theft.

Every year you are able to obtain a free copy of your credit bureau report for most people this one time a year check will be enough to find any issues which may be on their credit report. Most credit reports are going to list more than a year of history. It also lists any late payments and missed payments. Every aspect of your report should be checked over including previous addresses.

It is especially important to make sure that you check on things such as credit inquires, that there are no debts you do not recognize and that all payments and most importantly paid off or settled debts are clearly listed or removed. It is common for there to be a delay or for settled debts to take longer to be marked as paid in full. It is important to keep track of this since these often have to be done manually rather than relying on the automatic reporting system most credit companies use to report information on their accounts to the credit bureau.

An important aspect to keep in mind, which should prod you to keep an eye on your credit bureau report is that the majority of consumers have errors in their credit report, according to multiple studies. The additional problem here is that any errors will remain on your report for a very long time unless and until you discover and dispute the items.

The information on your credit bureau report determines your credit score, how willing companies are to lend to you or extend you credit, and if they do, what interest rate they will charge you, since a low credit score tells them you are a higher risk for them. It is even a determining factor on whether you can buy a home or even rent one. This is why it is important to make sure that the information presented on your credit report is accurate and up to date reflecting the appropriate information for all the debts you owe as well as showing that there are no debts you do not recognize.

If you are someone that does a great deal of credit-based transactions, it is even more important to check your report and make sure that the information remains accurate. Credit and lending companies usually report at thirty, sixty and ninety day intervals. If you have recently made major changes just as debt consolidation or debt settlement, ask when the companies report and then check your credit bureau report to ensure that the information has been updated and reflects the changes that you have made. Keeping an up to date accurate credit report that is free of mistakes is one way to help protect yourself and ensure that you are able to obtain the credit and services you want.

For more insights and additional information about your Credit Bureau Report as well as finding resources to dispute errors and get a free copy of your credit report from the major credit bureaus, please visit our web site at http://www.credit-help-center.com

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Bad credit can follow you for the rest of your life if you don’t decide to do something about it. This article explains a bad credit reputation.

Having a Bad Credit Reputation

By Jes B

The truth is credit reputation can haunt anyone for a long time. Bad credit history means having a credit rating that is negative. If you have this reputation, a bank and other lending institutions wouldn’t be happy to give you loans. You need to consider credit repair but this doesn’t happen overnight. Truth is a lot of people are suffering from this. Some don’t even know why they are in such trouble. There are reasons why this thing is sticking with you like a magnet.

One reason of having bad credit history is maxing out our credit limits. This is actually so easy to do especially if you don’t give attention to your spending habits. There are people who lose track of dates so they miss payments. This could be a problem because of interest rates. If you continuously shift from one mobile company to another, you would lower your rating. If you terminate your contract right away this can affect your credit rating. There also slip ups that may decrease our potential of borrowing in the eyes of lenders. Worst case is that you would end up in a pile of having a bad credit standing.

This is of course like saying good bye to future credit. This is bad since credit card is need especially if you love shopping. There are also people who can’t carry cash all the time. The good news is that there are lending companies who are willing to extend help to those people who don’t have credit options. The thing is that they charge high interest rates and of course have much lower spending limits. There are also requirements that you need to fulfill like opening a bank account with a partner bank. This is to ensure that you will pay them. This is easy to do especially if you have cash to spare.

A bad credit card is just like the usual credit card. It has your name on it and can do functions as well. This is the best way to repair credit history. Pay on time and keep your expenses to the minimum. Only have one credit card so it wouldn’t affect your credit ranking.

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