Understanding Your Credit Score
Have you ever wondered what impacts your credit score? Here's what impacts it.....
- 35% Payment History – Make a payment or miss a payment. It’s on your file
- 30% Used Credit vs. Available Credit – Try to own under 50% of total limit on all credit
- 15% Credit History – The longer you’ve had credit, the clearer the picture of how you manage your debt.
- 10% Public Records – prior history of bankrup0tcy? Collection issues? These events may have a significant negative impact on your score
- 10% Inquiries – How often are you applying for new credit? It has an Impact