| Understanding exactly what goes into your FICO | | | | one of the reasons that people need to fix their credit. |
| score, or credit score, can help you clean up your | | | | Those make up ten percent of the overall credit score. |
| credit or, at the very least, avoid getting bad credit. | | | | Each time that you apply for bank loans, automobile |
| Keep in mind that lenders are not the only people who | | | | loans, credit cards, store cards, or any other avenue of |
| may look at your credit score. Employers and even | | | | borrowing money, you potentially lose points off your |
| landlords will typically check a credit score for stability | | | | score. If you do not absolutely have to apply for more |
| and trustworthiness. | | | | credit, then you are better off leaving it alone. There's |
| The first thing that is included in your FICO score is | | | | no reason to apply for every store card in the world |
| your payment history. This one item alone accounts | | | | just for a small discount. Similarly, opening new credit |
| for more than a third of your overall score. This is why | | | | cards, taking out new auto loans, and opening new |
| it is vitally important that you always make your | | | | home equity loans might also harm your credit. |
| payments on time. Your payment history can include | | | | Finally, the last ten percent of your overall FICO score |
| your mortgage, credit cards, car payments, student | | | | is made up of the type of debt that you have. |
| loans, medical bills, and even rent if your property | | | | Mortgages are viewed differently than credit card |
| owner reports these things. | | | | debt. Medical bills are also viewed differently. Each |
| How much debt you have incurred is also included and | | | | type of debt you have, and the amount of that |
| makes up thirty percent of your overall score. The | | | | outstanding debt, makes a difference in your overall |
| outstanding debt that you have on your mortgage, | | | | credit score. |
| automobile loans, credit cards, and payday loans are all | | | | If you need to learn how to fix your credit score, there |
| listed in this category. | | | | are many resources available for you. The key is |
| The length of your credit history makes up another | | | | knowing what goes into your overall score and |
| fifteen percent of your credit score. The longer your | | | | ensuring that you always know what your credit |
| credit history, the higher your FICO score will typically | | | | report looks like. Make your payments on time and |
| be. | | | | avoid applying for unneeded credit. This also helps you |
| Credit inquiries and opening new accounts are also | | | | avoid having bad credit in the future. |