Did you rack up a huge bill this holiday season with your shopping ? Academy Mortgage wants to remind potential new home buyers in the Atlanta market to pay attention to their credit score, especially this time of year.

While it may seem like a good idea to sign up for a new credit card in order to pay for all your holiday gifts, if you’re considering purchasing a new home in 2013, this could potentially negatively affect your credit score.

If you think of your credit score as a pie chart: payment history makes up 35 percent, outstanding balance makes up 30 percent, length of credit history is 15 percent, 10 percent is new credit and 10 percent is types of credit cards. So, if you’ve racked up a huge bill on a fairly new card, you could see a huge drop in your credit score. Even if you make payments on time, these take 30 days to actually be reported to the credit bureau.

Maintaining a good credit score is crucial when trying to purchase a new home. If your credit isn’t high enough, your loan may not get approved or you may end up paying higher interest rates.

When you’re ready to purchase a new home for the new year, contact Academy Mortgage.Our team of all in house professionals is ready to help you get into your dream home.