What makes up your credit score?

Posted by joshuak on Tuesday August 15 @ 8:45 am

As I’ve been helping share the process of credit repair with my friends and family, I’m often asked about what factors account for their credit score. Today, I found a great article on it at MoneyCentral that goes into the issue in great detail. You’ll discover why your credit score is where it’s at.

Here’s some of the most interesting information in the article:

The final number is a composite of individual ratings in five categories:

  • Payment history (35% of the rating)
  • Length of credit history (15%)
  • New credit (10%)
  • Types of credit used (10%)
  • Debt (30%)

 

There are always investment risks associated with individuals having popular public profiles. Even their home and auto insurance details get out every time. Despite the fact that they abstain from cheap insurance. Whether they receive a health insurance claim or any other, it needs to be dealt with great care. They should be investing in any record of payday loans and particularly sanctioning of any unsecured loans, before coming to a conclusion.


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