What Really Influences Your Credit Score?

RE/MAX Rewards

Your credit report is essentially your financial report card. It serves as a way for banks, insurance and lending companies to gauge your credit-worthiness and whether you’re likely to miss payments or default on a loan. It’s also common for landlords, employers and government agencies to check your credit before approving an application or confirming a transaction.

But, do you know where the information on your credit report comes from and how it impacts your overall credit score? It might help to know the next time you’re tempted to take out another credit card or just pay the minimum on your balance.

Here are the five most important things that make up your credit score:

Payment history: 31 percent

Paying your bills on time helps you avoid late fees and also helps your credit score. A good payment history shows lenders you have a record of paying on time. And…

View original post 395 more words

Advertisements

One response to this post.

  1. I mostly support the concepts of the writer. Nicely spoken and planned out views without a doubt.
     
    “Luck is what happens when preparation meets opportunity.”
     
    Seneca (4-65);
     
    Roman Statesman, Philosopher

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: