Wednesday, March 11, 2020

Financial Spring Cleaning for Credit Education Month

Now is a great time to start some Spring cleaning - and while this can easily apply to your vacation home at the Lake of the Ozarks, the real cleaning we are talking about is in your finances. March is Credit Education Month, and a wonderful time to talk about credit and how you can always be improving your score.

Team Lasson is helping so many people buy the home of their dreams, and if you want to buy real estate in 2020, we want to help you as well. Here are a few ways you can start improving your score and getting ready for your next mortgage.

1. Be Aware Of Your Score

No matter what your credit goals are in the coming months, you have to know what your score is so that you know what you need to do to improve it. There are several ways you can request a copy of your credit report, so make sure you take advantage of the opportunity. In fact, many places offer it for free, so do some research and get started. You will want to make sure that you check for errors that could be negatively impacting your score.

2. Keep Up On Your Payments

This is of utmost importance - you need to pay your bills on or before the due date. A late payment can knock a few points off of your score - and that is before it goes to collections. Late payments can also stay on your credit report for a while, so it is important to avoid paying late.

3. Build Your Score Wisely

The value of having a good credit score is that it can give a lender a snapshot into how you will handle a line of credit. If you have no credit history, there are ways to start building your score through smaller loans and making your payments on time. With some diligence, you can have a positive credit history to show future lenders!

4. Manage Your Credit Responsibly

When considering your credit lifestyle, less is actually more. You can cancel credit accounts and get new ones, but this can cause a negative impact on your credit score and take a lot of time to repair. You may even want to start limiting your credit. When limiting your credit, you may want to avoid applying for new accounts, transferring balances, or concentrating all of your credit-card balances onto a single card - these actions can lower your credit score.

Considering Buying a Vacation Home?

If you have been dreaming about a relaxing vacation at the Lake of the Ozarks, this may be the perfect time to buy a vacation home at the Lake of the Ozarks! Team Lasson can help walk you through the mortgage steps and make the best choices for your credit accounts and finances. If you are ready to get started, visit our website ( to submit your application. We will review it and can then discuss the best plan of action based on your finances at the time. We love helping people secure their dream homes, and we cannot wait to assist you on the journey of a lifetime!

For Lake area news, resources and tips on financial services, please 

Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

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