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What affects a credit score?
 1. Payment History (35%). Generally, your most recent credit history has the most impact on your overall credit score. This includes late payments, collections, charge offs, bankruptcies, or judgments.
2. Amounts Owed (30%). High balances tend to have a negative impact on a person’s credit score. It is advised by most credit experts to keep card balances below 30% of the available credit limit.
3. Length of Credit History (15%). Typically, the longer the credit history, the better. For this reason specifically, it is smart to speak with a credit expert before any accounts are closed.
4. New Credit (10%). Too many inquiries or new accounts can have an adverse impact on a person’s credit score. Basically, speak with your bank before you start applying for credit on home furnishings.
5. Types of Credit in Use (10%). Auto loans, lines of credit, department stores, and bank credit cards all affect a credit score differently.
Click HERE, for a free consultation with one of our preferred credit specialists.
Regardless of your credit position, we still have a home ownership plan for you.
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