What affects your credit score?
There are 5 factors that affect your credit score:
1. Payment History 35% (How well you pay your debt obligation ex. credit cards, LOC, Mortgage, etc.)
2. Utilization 30% (How maximize is your credit limit)
3. Length of Credit History 15% (How long you have been using your credit with the same financial institution)
4. Type of Credit products 10% (How many high ratio credit you have outstanding)
5. Amount of Inquiry 10% (How many credit or loan you applied and were denied)
1. Payment History 35% (How well you pay your debt obligation ex. credit cards, LOC, Mortgage, etc.)
2. Utilization 30% (How maximize is your credit limit)
3. Length of Credit History 15% (How long you have been using your credit with the same financial institution)
4. Type of Credit products 10% (How many high ratio credit you have outstanding)
5. Amount of Inquiry 10% (How many credit or loan you applied and were denied)
