Posted on: 02nd Aug, 2009 07:44 am
my credit is bad around 603 my fiancee has good credit the problem is i make more money than her but her score is better she is a waitress has been for years what can i do with this i dont know if she makes enough money by herself
jake34
Welcoem to the forum
My suggestion woudl be, to work on improving your score if you can.
You need 620 to get a FHA loan and catchign up another 17 poitns woudl nto be that difficult
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, If you are making payment on time, 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, which i assume you have pretty good history.
Good luck and feel free to ask
Welcoem to the forum
My suggestion woudl be, to work on improving your score if you can.
You need 620 to get a FHA loan and catchign up another 17 poitns woudl nto be that difficult
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, If you are making payment on time, 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, which i assume you have pretty good history.
Good luck and feel free to ask