Five Factors of Credit Scoring
Payment History
35%
Capacity
30%
Length of Credit History
15%
Types of Credit
10%
New Credit
10%
- 30 Day Late Payments
- Charge Offs & Collections
- Short Sale & Foreclosure
- Tax Liens & Judgements
- Revolving Credit Cards
- Balances Under 50%
- Optimum is 30-35%
- Credit Score Impact
- Building Credit History
- Closing Credit Cards
- Credit Score Impact
- Authorized User Account
- Installment
- Mortgage
- Revolving
- Proper Mix of Accounts
- Opening New Accounts
- Pulling Your Credit
- Purchasing a Vehicle