Raise your credit score - at least a few points!

UPDATE -- I have recently learned that it may be a hoax that this opt out offer will raise your credit score. While it is still a great way to stave off junk mail and prevent identity theft, it remains to be seen if this will truly raise your credit score.

Your credit score is the A#1 most important part of your financial makeup when it comes to getting a mortgage loan. This is a topic that is near and dear to me because I see it hold back so many people when I am reviewing their situation and counseling them on their home loan options, so you will see a lot of information on this blog about credit scores.

I recently learned of (what I think is) a new tool that will not only stop some junk mail, but also raise your credit score a few points. You can go to http://www.optoutprescreen.com/ to opt out of insurance and credit card offers for either 5 years or FOR LIFE!

Why would this raise your credit score? One of the many components of credit scoring is the access that you have to credit (lender speak for how high your credit limits are and how many credit cards you have) and your propensity to seek credit (lender speak for how many people look at your credit report each month to see about extending credit to you). When you opt out, you eliminate a lot of credit offers and make yourself a little bit less-risky to mortgage lenders.