“Smart credit management gives you healthy financial health”. Credit score is one of the largest factors which allows lender to give you mortgage loan. You can get your score before applying for pre-approval  loans for My Money House but when you find your credit score is lower than 700 then it’s time to repair it because better score leads to low interest rate.If in case your credit scoredoes not allow you to take loan then improve your score by paying your bills on time, credit your phone bills on time and don’t close the unused credit cards they will help you to improve your score. You should pay off your all debts and leave small balance on credit cards. Also remember those factors which can affect your credit ratings and that will be your payment history it means whether you paid your bills on time or not. Your utilisation behaviour towards credit and this can verify by knowing the balance between your statement balance and the quantity of credit availability to you. Another factor that affects credit rating is the credit history length it tells how you are managing your debts and how long you are taking time. Lender will also check your recent credits.

Which spending habits can affect your credit ratings?

Spending habit is a regular behaviour of one who spends lot of money without solid reason. This habit can affect your credit ratings negatively for example if you are making late payments because it may show a default on your credit file it will provide bad perception of your financial status. If your credit card is at its limit and you are paying only minimum each month, it can have a very damaging effect on your credit score. If you are denied for credit but still you start shopping everywhere these recurring searches makes your credit score low.