We are now living in a world that dictates tighter credit lending privileges that will probably last for many, many years.

This new way of lending will no doubt affect many consumers when applying for a St Louis home mortgage.

Those who take care of their credit profiles won’t fair so badly. But for those whose FICO scores are below 580 will pay higher interest rates and closing cost.

St Louis refinancing experts heartily recommend these 3 suggestions for credit improvement:

1. A Good Start Would Be To Look At Your Credit Report Right Away –

One of the most important reasons for keeping close tabs on your credit score is to make sure there are no errors or fraudulent activity contained within.

Simply put, your credit report can either provide you with the things you want and need while saving you money or can cost you dearly if things are not in order.

Go and search on the Internet for Annual Credit Report. You can then request a free copy of your credit report from all three bureaus by federal law.

Plan on sitting down and thoroughly reviewing your reports. The main reason of looking is to locate any type of mistakes that could be costing you time and money before you ever apply for a St Louis loan.

2. You May Want To Opt Out Of Pre-screened Credit Card Offers –

If you find yourself on every bank’s mailing list, your mailbox will be filled to the sky with several different types of credit card offers. This is not the best way to apply for a new card.

But if you truly want a new credit card, you can do your own shopping online at Credit Card Guide or Bankrate and then apply online.

Never make the mistake of thinking that just because you receive any type of credit card offer in the mail that you have been approved for the best rates and terms.

No bank or credit card company will give you a credit card without first checking your credit when applying.

You may find yourself getting less than favorable terms or possibly getting a letter of denial due to changes in your credit profile since receiving the original credit card offer via mail or e-mail.

Most consumers may not know this but you can also opt-out of receiving credit card and insurance offers for up to five years or permanently with a mail-in form online at Opt Out Prescreen.

3. If You Have Credit Cards That Have Been Put Away, Get Them Out –

New rules taking effect in August will now get rid of inactivity fees for not using credit cards.

But don’t forget that credit card companies can still close your account or reduce your limits on unused credit cards which in turn might drop your credit score.

To avoid losing those credit cards, simply use them once every 60 to 90 days.

This will now allow you to keep those extra cards for emergencies or to switch them out if one of your card’s rates goes up or is possibly closed.

Author Bio: Want to find out more about a St Louis loan, then visit Floyd J. Tapia’s site on how to choose the best St Louis refinancing loans for all of your St Louis finance needs. Or give us a call at 877-334-0210 or 314-334-0210.

Category: Finances
Keywords: st louis loan, st louis refinancing, st louis home mortgage, st louis finance, st louis home loans