1) 30% of your score is made up of the ratio between your available credit vs your actual balances on revolving credit accounts (like credit cards).
You don’t want to charge these accounts over 50% of the available balance, and its even better if you can keep it under 30% of the available balance.
2) 15% of your credit score comes from the length of time each account has been open, and the length of time since the account’s most recent action.
So, it’s impossible for someone who is new to credit to have a perfect credit score.
A longer credit history provides more information and offers a better picture of long-term financial behavior.
So, to improve your credit score, individuals without a history should begin using credit, and those with credit should maintain longstanding accounts.
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
Do you have investment property, and would like to pull cash out of your property?…
I wanted you to know about a mortgage program that doesn’t require any income documentation…
The bad news is that according to Redfin, 38% of U.S. renters don’t believe they’ll…
I wanted to let you know we have a 2% to 5% downpayment and closing…
Wanted to let you know we have fix and flip financing available to you. Here…
If you purchased a home using your own cash, and now would like to pull…
