Six Credit Score Myths Debunked!

Six credit score myths debunked

Could your credit score be the key to a better life?

Although 70 percent of consumers said having good credit is the key to unlocking the “American Dream,” they are getting some basic facts wrong, according to Capital One.

More Americans increasingly are aware of the big part their credit score plays in their financial lives, from their ability to get approved for a new charge card, buy or lease a car, rent an apartment and, in particular, determine their mortgage rate. Generally, the higher the score, the better the rate for which consumers will qualify.

“Achieving better credit is core to everyone’s financial health, and this study revealed that there is a strong spirit of optimism; however, there is a need for more education,” said Jennifer Jackson, managing vice president at Capital One.

The financial firm polled more than 2,000 consumers between August and September last year based on their credit history, including those new to credit, those rebuilding their credit and individuals with five or more years of credit experience.

Improving Credit NF

Overall, those surveyed said they would make some significant trade-offs to have better credit. Nearly a third of those polled would rather have “excellent” credit than receive $1 million, and nearly 90 percent of 18-to-24-year-olds would choose “excellent” credit over access to social media.


Some scores, notably those from FICO, one of the largest credit-scoring companies, range from 300 to 850. A good credit score generally is above 700, and those over 760 are considered excellent, according to Capital One. Those numbers generally allow you to quality for the best rates.

Even without forgoing Facebook or Instagram, there are simple ways to improve your credit score with a little information. To that end, here are the top misconceptions and the truth behind those three-digit numbers.

Myth: Closing unused card accounts is good for your credit.

Fact: The average age of your accounts is a significant part of your score; keeping your oldest cards open (even if you don’t use them often) generally will help your score.

Myth: Paying your utility or cell phone bills on time builds your score.

Fact: Not really. On the other hand, if you are late or delinquent that will hurt you.

Myth: Holding a credit-card balance is good for your credit.

Fact: Generally it’s better to pay your credit card bill in full and on-time every month. (Plus, that way, you avoid interest charges.)

Myth: There is only one credit score. (Nearly 29 percent thought so.)

Fact: There are multiple credit-scoring models used by multiple credit-scoring companies. Your score can even change depending on the type of loan you are seeking.

Myth: While more than half of consumers know that checking your credit report will not reduce your credit score, 27 percent said it will.

Fact: A so-called hard inquiry for credit-card applications or credit checks for loans can cause a temporary dip in your score. Soft inquiries such as reviewing your credit score through credit-monitoring tools will not impact your score. (Surprise! Frequent credit score checks improve it.)

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Cheap Ways to Give a Home a Facelift!

7 Cheap Upgrades That Will Make Your Home Feel Like It’s Brand-New



If your home has you down in the dumps but you lack the cash to fix it up, don’t despair! Not every upgrade has to take a big bite out of your bank account.

Here are seven foolproof ways to make your home feel like a totally different place through small changes—and small expenses.

1. New hardware

Swapping out the boring chrome hardware the previous owners installed can go a long way toward making your home look like yours—not to mention give the entire space an easy, inexpensive refresh. Depending on your style, new pulls or handles can cost mere dollars.

“The first thing I do to give the home more of the look and style that I like is swap out the hardware,” says Doug Mahoney, who worked in construction for 10 years and now writes about tools and home improvement for The Sweethome. “All it takes is a screwdriver, and it’s surprising what a difference it can make.”

2. Small paint jobs

Don’t have time to repaint your entire home? Start by tackling smaller jobs such as your front door or kitchen cabinets. Since these projects are quick, you can squeeze them in during the weekend (or even an afternoon). And you’ll use only a fraction of a gallon of paint (which costs between $15 and $30)—making for an ideal impact-to-expenses ratio.

“Personally, I can’t stand the look of polyurethaned oak cabinets, so I’d cover those up with a nice white paint,” Mahoney says. “It makes it look like a whole new kitchen.”

If you like your cabinets, consider repainting the trim in your living room or adding some fresh color to a small room such as your bathroom.

3. Sensor lights

Tired of scrambling for the light switch while your arms are holding bags of groceries? Add sensor lights to your front porch and any other regular entrances such as your garage door. Starting at just $15, it’s a tiny cost with a big reward.

These lights won’t just improve your visibility—they’ll also lower your electricity bill. And they’re a big home safety boon to boot; experts say motion-detecting lights discourage criminals from lurking around your home.

4. Magnetic door catch

Speaking of those arms full of groceries: Adding a magnetic door catch to your primary entrance drastically simplifies loading and unloading. No more awkward sideways crab walks as you attempt to keep the door open while carrying a big package. You might even consider installing this before moving day to make your movers’ job easier.

5. Keyless entry pad

If you’re always losing your keys, try investing in a keyless entry pad such as this simple $100 Kwikset deadbolt. It can mean the difference between spending a few hours moping in your car and enjoying a hot cup of cocoa in your living room.

Plus, you’re not the only one who benefits: If you’re expecting guests but won’t be available to greet them, they can let themselves in—a huge improvement from hiding a key, which might be a safety risk.

6. Low-flow toilet

“It may seem intimidating to those not very interested in DIY, but swapping out toilets is a fairly simple process,” Mahoney says.

Choose a high-efficiency or low-flow toilet to save money on your water bill. While it does require some investment (expect to pay between $100 and $325 for the toilet itself), you’ll be making your money back soon enough—especially if you’re replacing an older model installed before 1992. That’s when federal plumbing standards mandated all toilets use 1.6 gallons or less per flush.

With a high-efficiency model, you’ll use about 300 fewer gallons of water per year—if not much more.

7. Fresh mulch

Jazzing up the outside of your home can go a long way toward making you love where you live. While you could go all-out—landscaping the yard and painting the trim—there’s a simpler solution: mulch.

“New mulch in the flower beds can add a lot to the curb appeal,” Mahoney says.

Instead of grimy old dirt that’s been trod on for years, a fresh new layer looks clean, fresh, and pretty—making a huge difference for just $6.

Client Spotlight: The Caballero Family

Client Spotlight: The Caballero Family

Along with featuring our agents for the year of 2017, we are also featuring one of their great clients! Meet the Caballero’s!

LenyNilo                         LenyNilohouse

Leny and Nilo Caballero’s first chose to go with Home Coach Realty because they had known Chat for many years and they knew she was the right realtor for them. Chat used to be their landlord for roughly four and a half years. “Chat made [this] experience beyond amazing, everything went awesome,” said Leny. They said that Chat was flexible and reliable and answered any and all questions. Home Coach Realty and Chat provided them with everything they needed to ensure their home buying process ran smoothly. “During the home buying process we had some bumps along the way, but fortunately Chat was able to always to guide us and help us with any issues we were facing,” Leny stated. When asked if they would recommend Home Coach and Chat Geneblazo to a new homeowner Leny was very enthusiastic to say, “Yes, yes and yes. I will definitely recommend Chat and Home Coach to anyone I know that is buying a house. She is amazing and we would use her again.”

Agent Spotlight: Chat Geneblazo

Meet Chat Geneblazo!


Chat Geneblazo and her family immigrated to the United States from the Philippines in April 2000. They arrived and settled in Raleigh, North Carolina. She has seen the tremendous growth of the Raleigh metropolitan area ever since that time, both in population and economy.  She obtained her real estate license in 2005, initially planning to utilize it to buy investment properties. However, with encouragement from friends, she started doing real estate part-time, solely on a referral basis. She quickly built a good reputation among her clients. She understands her clients’ needs and wants and treats the process as if she’s buying a home of her own.  She strives to be someone whom her clientele can put their trust and faith on, many times sharing their emotional journeys as they go through the process together. She continuously works on advancing her knowledge of the real estate industry, by completing advanced training’s from financing to understanding of the building codes, and knowing the recent developments in the area where she practices real estate. Together with her proven years of experience and advanced education, she was able to earn  the “Accredited Buyer Representative” designation (ABR). She is also a member in good standing of the North Carolina Association of Realtors and Raleigh Regional Association of Realtors.


When she’s not busy with real estate, she spends quality time with her family. She does volunteer work at church and in the community. She finds happiness in being able to help others no matter how small that might be. For fun, she loves to tell stories through her videos whether it be a wedding, a kids party, or social events. Chat lives in Rolesville, NC with her husband, Ronald, and their four children, Rio, Gabe, Josh and Angie. Over a year ago, her daughter surprised everyone and brought home a Siberian husky. She’s been a lovely addition to the family since then and brings joys to everyone everyday.

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