I don't know how to officially get February declared "National Raise Your Credit Score Month" so I decided to cut through the red tape and declare it myself.

For those of you with "good enough" scores, who don't plan on moving or making a purchase soon, there are nevertheless plenty of reasons to get your score as high as possible:

• Auto and homeowners insurance rates are partially determined by your credit score
• Many employers make hiring decisions based on credit score
• If you want to do business with the government or work on a military base, they might pull your credit score to determine whether you are a security risk
• Although hospitals claim they're not making care decisions on the basis of credit score, many of them are pulling them, nonetheless (stay tuned)

Hopefully this convinces everyone to take a couple of steps toward a higher credit score.

I'm offering two free services this month: a credit score review and a mortgage checkup. Please call or respond to this email me if either interests you.

What's an asset?

1. An asset raises in value over time or
2. An asset puts money in your pocket periodically

By these criteria, I'm not playing cute with words to say a credit score is an asset. 

1. It takes at least ten years to qualify for an 800+ credit score -- if you manage your credit properly, your score will improve annually.
2. As I pointed out above, paying less for insurance or getting a super job on the basis of a great credit score both put money in your pocket.

All assets, including credit scores, should be reviewed periodically. Call or email me if you want an expert opinion of how to raise your personal score.

The people I see with 800+ credit scores have a very good, long credit history. They never pay late, or have an account in collection. Obviously they have no recent history of bad debt. They will have very few active accounts.

But a high score can be hurt by little mistakes like:

• Taking a department store card to save 10% on a big purchase
• Opening a gas card
• Missing a payment on an expense account item your company hasn't reimbursed

Read this article for more tips on moving up to or staying at 800.

Don't believe everything you read on the Internet or hear over cocktails. This article explains the basics of maintaining and improving credit scores.

The summary:

• Pay on time every time
• Maintain a low balance
• Don't apply for several accounts at once
• Some cards are better for your score than others

Parents, help your children establish good credit habits – not using credit at all will hurt them as they get older and want to buy a house. Help  them get credit when they turn 18, and then make sure they treat it with respect.

 Please give me a call or respond to this email if you are thinking of buying or refinancing later this year and want to ensure your credit score won’t hurt your chances or cost you money. Also, if there is anything I can do to help you or a family member improve their credit score, I'm happy to assist