Your Credit is your BIGGEST ASSET !

Payment History - 35 %

• Paying debt on time and in full has a positive impact.
• Late payment, judgments and charge-offs have a negative impact.

Outstanding Credit Balances – 30%

• Keep balances below 50% of limit - below 30% is even wiser. Do NOT close accounts
• Pay outstanding debt down as close to zero as possible
• Evenly redistribute the remaining balance among open lines.

Credit History - 15%

• The length of time a particular credit line has been opened is important. A seasoned borrower is stronger.

Type of Credit - 10%

• A mix of auto loans, credit cards and mortgages is positive- rather than a concentration in credit cards only.

Inquiries – 10%

• Don’t “over-apply" for credit
• Auto and mortgage inquiries receive special treatment, and 20 inquiries can be made in a14 – Day period and will be treated as only one inquiry.
• Each hard inquiry can cost 2-50 points on a credit score.