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Factors That Influence Your Credit Score
Payment history (35%).
The largest factor determined on your credit score is your basic payment history. The number of unpaid bills you have had,
any bills sent to collection, bankruptcies etc. The more recent the problem, the lower your score.
Outstanding Debt (30%).
High balances or more precisely, balances that are close to your credit limit
can negatively effect your score. Keep your balances below 50% of your limit or
pay the cards off altogether (if possible).
Length of your credit history (15%).
How long have your accounts been open? The longer, the better.
Recent inquiries (10%).
Every time you apply for credit of any kind, you create an inquiry on your credit report. Lots of Inquiries negatively affect your score.
Inquiries within the last six months are especially damaging.
Types of credit in use (10%).
How many and how much? Having loans from finance companies (Beneficial Finance, American General, etc.) can detract from your score.
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INTRODUCTION
FACTORS THAT INFLUENCE YOUR CREDIT
THE CREDIT SYSTEM
RISK FACTORS
HOW MUCH DOES A LOW SCORE COST YOU
HOW ARE CREDIT SCORES CALCULATED
WHAT CAN YOU DO
MAINTAINING AND IMPROVING YOUR CREDIT SCORE
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