Good news! Repairing your credit score and your score is quite easy to understand and you can use this information to keep it healthy.
Payment history 35 percent of your score depends on it. If so far, have had a consistent payment history if you do not panic. Part of the repair process creditors and false, misleading reach offices receive begins with old information and the report is closed forever.
If the payout is valid valid and stay up to date. Usually you can make an appointment with the creditors through payments to create a payment plan that will work. To make timely payments should be a priority. It’s the easiest way to influence your credit score.
Your score is 30% credit utilization you have. Credit utilization rate is extremely important, and I want to be under 30 percent. What does this mean? Here’s an example.
Three credit cards. On each card a $ 1,000 limit. Another open credit accounts Factoring credit available is $ 3,000 there. 900 $3,000 $of available credit is 30 percent. Together the three accounts in total at any time, the fee for $ 900 should not be more than.
Collect credit accounts, and then add how much you owe on those accounts. If 30% if you pay down your balances within the shortest possible time. You will see improvement in your credit score.
Bonus tip: carry your credit card balance every month, don’t let him in. If you can’t afford to pay off the balance within a month, but do not spend money unless it’s an emergency. This will help keep it under 30 percent of your credit score and the credit immediately.
The length of your credit history 15 percent of your score. How much have you been borrowing? Started, you’re considered a lower risk than someone who has to borrow your credit history is well established. Successfully demonstrated a more reliable, if you will be able to pay back the money you’ve borrowed
Score 10% with new accounts and loan requests are factored. Because you have not established a credit account new credit account payment history is considered a risk factor for other than old. In the same way that applies for a new loan. If you are claiming more credit if your monthly income you need to borrow more money over this notifies creditors that you’re spending more than you are doing.
The 10% of score there is a mixture of credit. Good to have a good mix of credit is a good way to build credit. Car loans, mortgages and credit cards a good credit mixture.