Managing Your Credit Score

Credit report pulls are mandatory when applying for a loan unless you are an international buyer and applying for a Foreign National Loan. Credit determines several factors; the rate of the loan, the terms of the loan, the ability to qualify for a loan. A credit report can also help certain buyers to zero in on the areas that need to be improved in order to achieve a better score, which equates to a better interest rate. Rateplicity is here to help you with this. Please also note that every person is entitled to a free credit report once a year online by visiting

Before having your credit pulled:

  • Check your credit report on the free site
  • If you are able to, make payments on personal loans
  • DO NOT make any large purchases when applying for a new mortgage loan
  • DO NOT open new accounts before or while you are in the process of applying for a loan
  • Make payments on time. Late payments can seriously harm your credit in the long term.
  • Pay off any derogatory listings
  • Open a secure credit card if you need to establish credit.
  • Monitor how many credit accounts you open. Less is more. It is more important and easier to be responsible with fewer cards.
  • Use your credits account often to show the ability to pay off. Try your best to keep your balances under 30%.
  • Call the credit reporting companies directly to dispute any inaccurate information.