What factors affect the credit score calculation?

Garysnober · Joined: 17 Mar 2009 Posts: 455 15.40 Dollars($)

I have never heard of companys turning down credit cause of address or location of house.... And nancy only hard inquiry will lower ur credit score, Not a lot but just dont get too many of these as they stay on ur credit.

Guest

CAN SOMEONE TELL ME IF MEDICAL BILLS GO ON YOUR CREDIT REPORT IN MASS

gmakerley · Posted: Fri Jun 19, 2009 10:02 am Post subject:

matt, location isn't important. if a creditor reports a medical collection to a credit bureau, it will appear on your credit report, whether in massachusetts or elsewhere.

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.77 Dollars($)

Facotr which affect your credit score and how

Credit Score:

Your credit score and report is based on the following

35% is based on payment history
30% Amount you owed
15% length of history
10% New credit
10% on types of credit

As you can see 35% is payment history, as you are making payment on time now, it will help you to improve the score quickly and the next 30% is how much you owed. As you keep making payment it will reduce the amoutn you owed helping again to improve your score and report.

15% is length of credit history.

The rest 20% is made up of Type of credit and new credit

So always payattention to yoru first two items

manoj_gopale · Joined: 16 Feb 2009 Posts: 481 0.49 Dollars($)

realgeni,

this is a nice illustration in terms of percentage.Surely it will help people while taking any decision pertaining to the mortgage as well as credit score improvement.

keep in touch.....

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.77 Dollars($)

Thanks

No problem

All times are GMT - 7 Hours
Previous 1 2 3
Page 3 of 3