Need a better understanding of your credit & score?
Did you know your credit score can impact your ability to get a new loan, it could increase your interest rates on many current loans, can keep you from obtaining new employment, increase your insurance rates, and most importantly, create distress to your overall finanancial situation. Take a look below, as we can assist you in making your credit accurate.
Credit Score Formula = How probable is it that you will pay your bills on over for the next two years.
A credit score is as low as 350, and can be as high as 850. Your score is impacted by:
35% of your credit history is based on past deliquencies. Have you paid your bills on time? Paying your bills on time makes the biggest impact in improving your credit scores.
30% amount on your revolving debt accounts. It is best to keep your balances at about 20-25%. Keep low ratios on your credit accounts.
15% is the age of your open accounts
10% is inquiries for new credit. Hard and soft inquiries. Hard inquiries can hurt if there is a large number of inquiries.
10% is your mix of credit (home, cars, credit card, etc)
30% amount on your revolving debt accounts. It is best to keep your balances at about 20-25%. Keep low ratios on your credit accounts.
15% is the age of your open accounts
10% is inquiries for new credit. Hard and soft inquiries. Hard inquiries can hurt if there is a large number of inquiries.
10% is your mix of credit (home, cars, credit card, etc)
Many times (79% of the time) you will find errors on your credit report for a variety of reasons. The fair credit reporting act requires your credit report to be 100% accurate, 100% verifiable, & 100% timely. It is up to YOU to insure it is correct.
WE CAN HELP! LET US NOW >>>
WE CAN HELP! LET US NOW >>>