5 Factors That Determine Your Credit Score

 

5 Factors That Determine Your Credit Score:

1. History - whether you paid on time.

2. Debt - how much you owe.

3. Longevity - the length of your credit history, the longer the better.

4. Risk - new credit is considered more risky, even if you pay promtly.

5. Type of credit - it is usually better to have multiple types of credit, like installment loans, credit cards and a mortgage.

Glen Wada

Glen Wada

Associate
CENTURY 21 Foothills Real Estate
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