{"id":67,"date":"2008-11-16T09:54:01","date_gmt":"2008-11-16T17:54:01","guid":{"rendered":"http:\/\/www.rentecdirect.com\/blog\/?p=67"},"modified":"2016-12-27T15:59:36","modified_gmt":"2016-12-27T23:59:36","slug":"why-your-credit-score-matters","status":"publish","type":"post","link":"https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/","title":{"rendered":"Why Your Credit Score Matters"},"content":{"rendered":"<p>This current market opens up the possibilities for property owners, or aspiring property owners to make it big.\u00a0 The market has housing prices at an all time low.\u00a0 In the last 2 weeks I&#8217;ve seen 3br 2ba townhouses selling for less than $95k.\u00a0 Additionally an eleven (yes, I said eleven) bedroom house in foreclosure listed for $159k (it sold the day after it was listed).\u00a0 Another example is a 5br house for $129k.\u00a0 These are just the ones in Southern Oregon that I found.\u00a0 If your not familiar with home prices in Southern Oregon, I can assure you those are all absolutely smokin deals!<\/p>\n<p>What does it take to get those properties though.\u00a0 That&#8217;s where so many investors are running into trouble.\u00a0 Conventional lending is shot.\u00a0 Let&#8217;s face it, although every man and woman in the US just donated roughly $7.000 to finance the &#8220;mortgage bailout&#8221;, all the banks have done is buy up other banks with that money and it has not loosened up lending restrictions.\u00a0 Quite the contrary really.\u00a0 Lending restrictions are tighter now than I&#8217;ve ever seen.\u00a0 A+ credit is no longer 720+.\u00a0 You need 760+, and in some cases 780+ to get a lenders best rate.\u00a0 While the richest people get a little richer, the average investor&#8217;s life becomes a little harder.<\/p>\n<p>Aside from the tips everyone knows about (don&#8217;t pay late, etc); here&#8217;s some tips to improve your credit, and maintain it.<\/p>\n<ul>\n<li>Make sure your credit cards are increased to their maximum level.\u00a0 Your credit line with the major banks should equal 25% &#8211; 35% of your annual gross income.\u00a0 If your limit is not there, call them and ask for a credit increase.\u00a0 The most compelling line I give is:\u00a0 &#8220;I&#8217;d like to see my credit line increased.\u00a0 Frankly, some other banks have given me larger lines and so I carry their cards in my wallet so I&#8217;m prepared for a large purchase.\u00a0 Your card only offers me $x and therefore it&#8217;s not as valuable to me&#8221;.\u00a0 I&#8217;ve yet to be turned down for a credit line increase with that reasoning.\u00a0 If you don&#8217;t have a credit card with a higher balance than the one your asking for an increase on, come up with another reason, don&#8217;t fib.<\/li>\n<li>Use your high limit cards, even if it&#8217;s for smaller purchases.\u00a0 Cycle the card in your wallet every month or find another way to cycle them.\u00a0 The reason for this is banks, even the larger ones, are reducing credit lines automatically.\u00a0 Amex has recently sent out thousands of letters to consumers stating their credit line is being reduced because they believe the consumer does not need that high of a line.\u00a0 If this happens to you, your credit score will take an immediate dive because your ratios of used credit to available credit will go down.<\/li>\n<li>Pay down your revolving lines.\u00a0 If you have any home equity or 2nds that are considered a revolving line, I suggest paying them down as quickly as you can.\u00a0 Get them below the 50% level so they are not negatively impacting your score.\u00a0 Your conventional loans don&#8217;t matter.\u00a0 A 30yr conventional loan, regardless the balance, will typically improve your score.<\/li>\n<\/ul>\n<p>Aside from these items, keep your expenses low and income consistent.\u00a0 A good way to reduce your expenses immediately is to begin managing properties yourself.\u00a0 Also use a <a title=\"Free Property Management Software\" href=\"http:\/\/www.rentecdirect.com\">free property management software<\/a> to manage those properties with minimal effort and time.\u00a0 A lot of people predict tough times ahead and it is best to prepare now.\u00a0 For those prepared, there will be abundant opportunities for property owners and the like to do very well.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This current market opens up the possibilities for property owners, or aspiring property owners to make it big.\u00a0 The market has housing prices at an all time low.\u00a0 In the last 2 weeks I&#8217;ve seen 3br 2ba townhouses selling for less than $95k.\u00a0 Additionally an eleven (yes, I said eleven) bedroom house in foreclosure listed [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":true,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"iawp_total_views":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[15,16],"class_list":["post-67","post","type-post","status-publish","format-standard","hentry","category-news","tag-credit-score","tag-economy","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why Your Credit Score Matters<\/title>\n<meta name=\"description\" content=\"This current market opens up the possibilities for property owners, or aspiring property owners to make it big.\u00a0 The market has housing prices at an all\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Your Credit Score Matters\" \/>\n<meta property=\"og:description\" content=\"This current market opens up the possibilities for property owners, or aspiring property owners to make it big.\u00a0 The market has housing prices at an all\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/\" \/>\n<meta property=\"og:site_name\" content=\"Rentec Direct Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/rentecdirect\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/rentecdirect\" \/>\n<meta property=\"article:published_time\" content=\"2008-11-16T17:54:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-12-27T23:59:36+00:00\" \/>\n<meta name=\"author\" content=\"Nathan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@hitechlandlord\" \/>\n<meta name=\"twitter:site\" content=\"@rentec\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/why-your-credit-score-matters\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/why-your-credit-score-matters\\\/\"},\"author\":{\"name\":\"Nathan\",\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/#\\\/schema\\\/person\\\/1818761c0dbdaab5d78d657322a3d96b\"},\"headline\":\"Why Your Credit Score Matters\",\"datePublished\":\"2008-11-16T17:54:01+00:00\",\"dateModified\":\"2016-12-27T23:59:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/why-your-credit-score-matters\\\/\"},\"wordCount\":601,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/#organization\"},\"keywords\":[\"credit score\",\"economy\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/why-your-credit-score-matters\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/why-your-credit-score-matters\\\/\",\"url\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/why-your-credit-score-matters\\\/\",\"name\":\"Why Your Credit Score Matters\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/#website\"},\"datePublished\":\"2008-11-16T17:54:01+00:00\",\"dateModified\":\"2016-12-27T23:59:36+00:00\",\"description\":\"This current market opens up the possibilities for property owners, or aspiring property owners to make it big.\u00a0 The market has housing prices at an all\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/why-your-credit-score-matters\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/why-your-credit-score-matters\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/why-your-credit-score-matters\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why Your Credit Score Matters\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/#website\",\"url\":\"https:\\\/\\\/www.rentecdirect.com\\\/\",\"name\":\"Rentec Direct Blog\",\"description\":\"Property Management Software News | Rentec Direct\u00ae\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/#organization\",\"name\":\"Rentec Direct\",\"url\":\"https:\\\/\\\/www.rentecdirect.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/rentec_icon_square.png\",\"contentUrl\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/rentec_icon_square.png\",\"width\":377,\"height\":377,\"caption\":\"Rentec Direct\"},\"image\":{\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/rentecdirect\\\/\",\"https:\\\/\\\/x.com\\\/rentec\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/rentec-direct\",\"https:\\\/\\\/www.youtube.com\\\/user\\\/rentecdirect\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/#\\\/schema\\\/person\\\/1818761c0dbdaab5d78d657322a3d96b\",\"name\":\"Nathan\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/089a93aa19c0b8b60210d21446029d433ca81a79ed5e217dca8dac692798e550?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/089a93aa19c0b8b60210d21446029d433ca81a79ed5e217dca8dac692798e550?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/089a93aa19c0b8b60210d21446029d433ca81a79ed5e217dca8dac692798e550?s=96&d=mm&r=g\",\"caption\":\"Nathan\"},\"description\":\"Nathan Miller is the founder and president of Rentec Direct. Nathan loves technology and innovation, especially when it comes to helping the rental industry do their job better, creating happier managers, owners, investors, and renters. For some great insight into Nathan Miller's values on how he runs a company by putting the values of his employees and customers first, see this article from Southern Oregon Business Journal - Anyone can be successful, Just ask Nathan Miller.\",\"sameAs\":[\"https:\\\/\\\/www.nathanmiller.info\\\/\",\"https:\\\/\\\/facebook.com\\\/rentecdirect\",\"https:\\\/\\\/www.linkedin.com\\\/in\\\/nathan-miller-9087458\\\/\",\"https:\\\/\\\/x.com\\\/hitechlandlord\",\"https:\\\/\\\/youtube.com\\\/rentecdirect\"],\"url\":\"https:\\\/\\\/www.rentecdirect.com\\\/blog\\\/author\\\/nmiller\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Why Your Credit Score Matters","description":"This current market opens up the possibilities for property owners, or aspiring property owners to make it big.\u00a0 The market has housing prices at an all","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/","og_locale":"en_US","og_type":"article","og_title":"Why Your Credit Score Matters","og_description":"This current market opens up the possibilities for property owners, or aspiring property owners to make it big.\u00a0 The market has housing prices at an all","og_url":"https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/","og_site_name":"Rentec Direct Blog","article_publisher":"https:\/\/www.facebook.com\/rentecdirect\/","article_author":"https:\/\/facebook.com\/rentecdirect","article_published_time":"2008-11-16T17:54:01+00:00","article_modified_time":"2016-12-27T23:59:36+00:00","author":"Nathan","twitter_card":"summary_large_image","twitter_creator":"@hitechlandlord","twitter_site":"@rentec","twitter_misc":{"Written by":"Nathan","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/#article","isPartOf":{"@id":"https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/"},"author":{"name":"Nathan","@id":"https:\/\/www.rentecdirect.com\/blog\/#\/schema\/person\/1818761c0dbdaab5d78d657322a3d96b"},"headline":"Why Your Credit Score Matters","datePublished":"2008-11-16T17:54:01+00:00","dateModified":"2016-12-27T23:59:36+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/"},"wordCount":601,"commentCount":0,"publisher":{"@id":"https:\/\/www.rentecdirect.com\/#organization"},"keywords":["credit score","economy"],"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/","url":"https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/","name":"Why Your Credit Score Matters","isPartOf":{"@id":"https:\/\/www.rentecdirect.com\/#website"},"datePublished":"2008-11-16T17:54:01+00:00","dateModified":"2016-12-27T23:59:36+00:00","description":"This current market opens up the possibilities for property owners, or aspiring property owners to make it big.\u00a0 The market has housing prices at an all","breadcrumb":{"@id":"https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.rentecdirect.com\/blog\/why-your-credit-score-matters\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rentecdirect.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Why Your Credit Score Matters"}]},{"@type":"WebSite","@id":"https:\/\/www.rentecdirect.com\/#website","url":"https:\/\/www.rentecdirect.com\/","name":"Rentec Direct Blog","description":"Property Management Software News | Rentec Direct\u00ae","publisher":{"@id":"https:\/\/www.rentecdirect.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rentecdirect.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.rentecdirect.com\/#organization","name":"Rentec Direct","url":"https:\/\/www.rentecdirect.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rentecdirect.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2022\/05\/rentec_icon_square.png","contentUrl":"https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2022\/05\/rentec_icon_square.png","width":377,"height":377,"caption":"Rentec Direct"},"image":{"@id":"https:\/\/www.rentecdirect.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/rentecdirect\/","https:\/\/x.com\/rentec","https:\/\/www.linkedin.com\/company\/rentec-direct","https:\/\/www.youtube.com\/user\/rentecdirect"]},{"@type":"Person","@id":"https:\/\/www.rentecdirect.com\/blog\/#\/schema\/person\/1818761c0dbdaab5d78d657322a3d96b","name":"Nathan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/089a93aa19c0b8b60210d21446029d433ca81a79ed5e217dca8dac692798e550?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/089a93aa19c0b8b60210d21446029d433ca81a79ed5e217dca8dac692798e550?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/089a93aa19c0b8b60210d21446029d433ca81a79ed5e217dca8dac692798e550?s=96&d=mm&r=g","caption":"Nathan"},"description":"Nathan Miller is the founder and president of Rentec Direct. Nathan loves technology and innovation, especially when it comes to helping the rental industry do their job better, creating happier managers, owners, investors, and renters. For some great insight into Nathan Miller's values on how he runs a company by putting the values of his employees and customers first, see this article from Southern Oregon Business Journal - Anyone can be successful, Just ask Nathan Miller.","sameAs":["https:\/\/www.nathanmiller.info\/","https:\/\/facebook.com\/rentecdirect","https:\/\/www.linkedin.com\/in\/nathan-miller-9087458\/","https:\/\/x.com\/hitechlandlord","https:\/\/youtube.com\/rentecdirect"],"url":"https:\/\/www.rentecdirect.com\/blog\/author\/nmiller\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p5jt1p-15","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.rentecdirect.com\/blog\/wp-json\/wp\/v2\/posts\/67","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rentecdirect.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rentecdirect.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rentecdirect.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rentecdirect.com\/blog\/wp-json\/wp\/v2\/comments?post=67"}],"version-history":[{"count":8,"href":"https:\/\/www.rentecdirect.com\/blog\/wp-json\/wp\/v2\/posts\/67\/revisions"}],"predecessor-version":[{"id":6245,"href":"https:\/\/www.rentecdirect.com\/blog\/wp-json\/wp\/v2\/posts\/67\/revisions\/6245"}],"wp:attachment":[{"href":"https:\/\/www.rentecdirect.com\/blog\/wp-json\/wp\/v2\/media?parent=67"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rentecdirect.com\/blog\/wp-json\/wp\/v2\/categories?post=67"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rentecdirect.com\/blog\/wp-json\/wp\/v2\/tags?post=67"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}