Credit reporting agencies Lake Charles

My credit scores reached 780 which make it easy for credit reporting agencies Lake Charles me to own a new one.

But what would be a good credit score credit reporting agencies Lake Charles and how is it determined? Credit scores are usually calculated using five major criteria set forth by FICO, to determine an individual’s credit worthiness. These factors are stated below: Payment history- this is carefully scrutinized and your ability to pay at the right time is being studied. This makes 35% of your total credit score and reflection of many late payments will surely affect your overall score. 3 credit report free

Due Amounts- this refers to the amounts you are due to pay and this is compared in your payment history. Your outstanding balance is also helpful in making a good credit score. Length of credit- this credit reporting agencies Lake Charles refers to your credit history or the amount of time you have had credit. The longer your credit history the more potential client you are for lenders. freecreditscore

This is one of credit reporting agencies Lake Charles the reasons why most people do not close or cancel their old accounts even if the remaining balance is $0. New Credit application- this refers to how often you apply for credit. Acquiring new credit in a short period of time will credit reporting agencies Lake Charles bring negative effect on your credit score. Types of credit- this refers to the credit reporting agencies Lake Charles different types of credit you have.

Having different types of credit such as credit cards, loans and credit reporting agencies Lake Charles mortgage and managing these efficiently will help you gain a good credit score. free credit report 3 scores

These factors will determine your credit score and you should have a credit score that will range from 760 and up to be able to get the very best deals in loans and interest rates.