If you are not aware of it yet, having a good credit score is important for a great number of reasons. For one, it will help you get a loan easily for when you are thinking of buying yourself a home. In order for you to get the bank to approve of your home loan, you will need to show them that you are indeed trustworthy, and one way to do that is to have a good credit rating.

How do you get a good credit rating, and how do you keep such a rating? First off, when you are aiming for a good credit score, you should know that this entails quite a bit. You will need to pay all your bills on time, keep credit card balances at around 30% of your credit limit (if that is at all possible), and don't go crazy with getting credit card after credit card, or even taking out numerous loans.

You should also be aware that a credit score is based on your credit history, and the longer you maintain a good standing with all your creditors, the better your score will be. This means that you will need to keep doing what was stated earlier – bill payments on time, no going near your credit limit, and no successive loans as well as numerous credit card applications. Doing all of these will help you when you need to buy a home since your credit rating does have a bearing on any and all loan types you try to obtain.

It is also advised that you do not consolidate all your credit card bills into one credit card, or even close old credit cards. These will also affect your credit rating, which will also affect your chances of getting a housing loan approved.

If you need advice on how to improve your credit rating in order for you to get that housing loan you want, you might want to talk to a real estate expert, like the people at guamrentals.com or GuamVaLoans.com. The professionals here are well-versed when it comes to what is needed for housing loans, and what is required for you to improve your credit ratings before you even apply for a loan.