In just a couple of weeks one of the most outstanding PGA golf tournaments in the world will be coming to Charlotte’s Quail Hollow Country Club. This is the 11th year for the Wells Fargo Championship and my family looks forward to it every year. I actually volunteer and work the event for a couple of days and it is always fun to get up close with the golfers and I especially enjoy the conversations with the pros and their caddies as we work inside the ropes . I’ll be working as a laser operator and will be on hole number 5 on Thursday and on number 7 on Friday. A couple of years ago Dustin Johnson hit his drive 389 yards on number 5 and the PGA officials in the tower didn’t believe we measured it correctly and sent the Shot Link Officials down to see if we knew what we were doing . It was so funny to see their faces when they realized we had it correct and he had indeed hit it so far.
The Wells Fargo is just another reason why the Charlotte area is such a desirable area to live and people continue to relocate here everyday. If you are out enjoying the golf stop by and say hello and if you are looking to relocate to our area we would be glad to assist you. Give us a call.
Have fun and I’ll see you on the golf course!
A very important part of your credit education is staying on top of credit facts in the news. This week we will take a look at things that are happening right now that affect your total financial future.
According to Nurido News, There are a lot of myths about the credit score. Many people tend to think that some credit activities can lower their credit score. Here are a few facts about your credit score.
Checking your credit report does not deteriorate your credit score: Checking your own credit report goes down in the credit report as a soft inquiry and hence does not affect your credit score. However if a lender or a credit card company checks your credit report, it goes down as a hard inquiry and may cost you five points. But another important fact to be kept in mind is that all the inquiries in a 14-day period are considered as a single inquiry. The credit score rating system also does not take into consideration all the inquiries made within a period of 30 days before the day the credit score is to be computed.
Closing old accounts does not improve your credit score: Many lenders might tell you to close old accounts that are not in use. But doing this simply robs you of a long credit history and more percentage of your total credit limit is used up if you close your account.
Your FICO score is all you need: All the three major credit bureaus give you a FICO credit score rating formula. So your FICO score says all about your credit score and you don’t need to bother to look for something else to calculate your credit score. Using the FICO Credit Score Rating System, the credit bureaus give you a credit score. However the names for these credit scores are different at these bureaus. At Equifax, they call it Beacon credit score. At TransUnion, they call it Empirica. At Experian, it is called Experian/Fair, Isaac Risk Model.
The reason that you get different credit scores from all the bureaus is that reports of some credit activities performed by you is sent to one bureau and some to other. But more or less your credit score is the same.
Credit counseling does not hurt your score: The FICO credit score rating system does not take into consideration any reference to credit counseling in your report. In fact if you are facing troubles managing your finances then you can try credit counseling. It does not go down as a negative in a credit report.
The perfect way to improve your credit score is of course the simplest of them all – pay your bills on time. Rid yourself of credit score myths and start your credit improvement stint as soon as possible.