Payment History determines 35% of your credit score, with the most emphasis given to recent activity. Your payment history includes: <?xml:namespace prxml:namespace prefix = o /><?xml:namespace prefix = u1 /><?xml:namespace pre
· Any bankruptcies, judgments, liens, collections, suits, and wage garnishment
· Types of credit and payment information
· Number of accounts paid as agreed
· Late payment information - number of past due items, how long the items have been past due
Amounts Owed accounts for 30% of your credit score, and includes such things as:
· Total amount owed to all
· Amount owed on specific types of accounts (credit cards, installments, etc)
· How many accounts show balances how much you have paid down on installment
· How much available credit you have
· How much you have paid down on installment loans
Length of Credit makes up about 15% of a person's credit score, with information about:
· When your credit file was established
· How long individual credit accounts have been
· Age of the oldest account, and the average age of all accounts
· How long it has been since certain accounts have been used
New Credit Accounts determine about 10% of your credit score, with the relevant information being:
· How many of your accounts are new
· The ratio of new accounts to established
· How long has it been since a new credit account was established
· How many credit inquiries have been made on your credit
· How long has it been since these inquiries were made
Types of Credit in Use determines approximately 10% of your credit score. A mixture of account types generally scores better than reports with only revolving accounts, such as credit cards. Types of credit include:
· Credit cards
· Installment
· Mortgage loans
· Finance company accounts retail |