Understanding your credit score can be difficult for most of us. Even the smallest action can impact your credit in ways that you may not even think of. Check out this week's article for a basic understanding of your credit score. I hope it is of help to you.
15% Length of History- A long history of responsible credit use will lead to a higher score
30% Amounts Owed - Lowering debt can be the key to a better score
35% Payment History - Late payments may lead to lower credit scores
10% New Credit - Opening several accounts in a short period of time can lower your score
10% Types of Credit - Different types of credit, car loans, and credit cards can help your score
Comments