AUSTIN, Texas.- If you’re thinking of buying a home and need good credit, an expert explains five things to keep in mind for a good score.
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“It is important to know what affects your credit. The most important factors are: credit history, length of credit and the amount of debt in their accounts ”, indicated the advisor of BCL of Texas, Marisol Huertas.
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The finance expert indicated that the number of inquiries on her accounts is not that important. This happens every time your credit is checked and disappears over time.
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He also stressed that it is important to know that closing accounts is not good for your credit score. So, even if you have cards that you hardly use, it is more advisable not to close the account.
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What can people without Social Security do?
“They have to apply for an ITIN account and then find a bank that accepts it as a form of identification,” Huertas explained. Once they have their Personal Taxpayer Identification Number (ITIN) account, the person must go to a bank that accepts it and apply for a secured credit card or “Secured Credit Card”.
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Huertas stressed that it is important to avoid loan houses with high rates such as “Pay Day Loans”: “We recommend working with a non-profit organization that specializes in financial education,” explained Huertas.
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