Admit to your Weight or your Credit Card Balance?
Admit to your Weight or your Credit Card Balance? Americans would rather tell you how much they weigh, how old they are or how much money they have in the bank than admit how much they owe on their credit cards. This is according to an online poll from the National Foundation for Credit Counseling?.
The respondents said they’d be most embarrassed to admit their…
Credit card debt = 37 percent
Credit Score = 30 percent
Weight =12 percent
Bank balance =10 percent
None of the above = 9 percent
Age = 1 percent
“Since consumers revealed that the two facts they’d be most embarrassed to admit are related to credit, it is obvious that they are not comfortable with how they are currently managing their money,” said Gail Cunningham, representative for the NFCC.
The two most embarrassing things are related. Your credit card debt influences your credit scores. Typically one of the highest weighted elements of a credit scoring model is how much you versus your total available line of credit.
Although credit scoring companies and lenders each set criteria for evaluating credit worthiness, it’s wise not to use more than 30 percent of your available credit. Would you prefer to Admit to your Weight or your Credit Card Balance?
Let’s say you have $4,000 in credit card bills.
If the $4,000 is on one credit card with a $10,000 limit, you’ve used 40 percent of your available credit ($4,000 of the $10,000 you have available).
If you have $2,000 on one credit card with a $10,000 limit and $2,000 on another credit card with a $10,000 limit, you’ve only used 20 percent of your available credit ($4,000 of the total $20,000 you have available).
So having $2,000 on the two cards with a total $20,000 limit is better than having $4,000 on the one card with a $10,000 limit.
Having the best possible credit helps you get the best possible deal on a mortgage. If you’re planning to refinance your home loan or buy a new home, contact me and I’ll refer you to a loan officer who can work with you to make sure your credit is up-to-date so you get the interest rate you deserve.
Admit to your weight or credit card balance
About Deborah Laemmerhirt
Let me assist you in finding everything you need to know about buying or selling a home! As the preeminent real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground.
Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game.
I go the extra mile to help you achieve your goals. That’s why I constantly research the home, market and estate values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative marketing techniques to attract potential buyers.
As an Internet-savvy real estate representative in Connecticut, I’ve had the opportunity to help many home buyers find their ideal homes and many sellers obtain top dollar for their homes. Buying or selling a home is one of the largest financial transactions that most people ever undertake, so I will help you through every step of the process. My goal is to make your home selling or buying experience as easy and enjoyable as possible.
My services include:
Explaining the home selling and buying process thoroughly
Diligently selecting homes that meets your criteria
Pricing your home correctly and implementing a unique yet proven marketing plan
Negotiating on your behalf
Tracking the closing process to ensure a smooth transaction
I welcome the opportunity to address any questions you might have about buying, selling or current market conditions. Please call or e-mail me any time, and I will be happy to discuss your next steps in the buying or selling process.
I specialize in both Residential and Commercial Properties.
I also head a Real Estate Group to provide you with expert service and support.
Areas of Expertise
Making transitions in your life is challenging. You may be moving from out of town, a different state, internationally or just next door! Regardless of the distance I am prepared to respond to your unique needs.If you are a BUYER looking to downsize, up-size, want a new construction, desire a condominium, to invest, even if this is your first home, I will design a unique plan to fulfill your needs in a reasonable time frame, with the best negotiated price and the least amount of inconvenience.For my Home Sellers, I have an innovative marketing plan that will leave nothing to chance. Just call, and I would be happy to share the DIFFERENT and SUCCESSFUL TOOLS I utilize on each of my listings.
I have lived in Connecticut for over 35 years. I practice Real Estate in Fairfield County, New Haven County and Litchfield County. This includes, but is not limited to Bethel, Bridgewater, Brookfield, Danbury, Harwinton, Kent, Litchfield, New Fairfield, New Milford, Newtown, Oxford, Ridgefield, Redding, Roxbury, Sherman, Southbury, Warren, Washington, Westport and Wilton.
