Do you know what your credit score is? I mean right now, if I asked you, could you tell me your score? For many, the answer to this question is no. In a game that we have all been playing since we were teenagers, many of us or woefully ignorant of our score and the rules of the game. Our goal is to help you understand the rules, win the game, and in the end, save you a LOT of money. Today, we explore the nuance of the Credit Score system and how you can make it work in your favor!
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Factors That Affect Your Credit Score:
- Payment History = 35%
- Credit Utilization = 30%
- Length Of Credit History = 15%
- Types Of Credit = 10%
- New Credit = 10%
Action Items To Improve Your Credit Score:
- Pay On Time
- Increase Credit Limit/Line
- Don’t Close Old Cards
- Get New Cards
- Pay Weekly or Bi-Weekly
- Become An Authorized User On Someone Else's Card
- Dispute Errors
- Pay Off Accounts In Collections
- Have A Wide Mix Of Credit
- What is a credit report?
- What is a credit score?
- What are the credit score ranges?
- What is a good credit score?
- What is a bad credit score?
- What is a credit score used for and who uses it?
- What factors affect a credit score?
- How to lower a credit score?
- How to raise a credit score?
Thanks for listening!