Personal finance rules: Tackle debt this spring

When it comes to spring cleaning you may want to clean out a closet or rearrange your garage, but you also may want to tidy up your debt.

“You really want to jealously guard your credit rating in 2018,”’s Lynette Khalfani-Cox told FOX Business’ Maria Bartiromo on “Mornings with Maria.”

Debt plays a large role in your financial life. It can impact your spending ability, credit score, your ability and also your capacity to borrow money.

“Spring is a big home buying season and of course if you want to get say buy a home loan lenders are going to look at your credit reports,” Khalfani-Cox said Thursday.

Having a good credit score will help you qualify for lower interest rates and allow you to pay a lower finance charges on credit card balances and loans.

If you want to get a mortgage, keep your credit score high, Khalfani-Cox suggested.

“Generally they want to see you at 700 in terms of your FICO score or your Vantage score — 700 points and higher,” she added.

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