Payment history has the highest effect on your credit report.
If you haven't paid your debts in the past, or you have been making late payments, you'll get a negative mark on your credit report. These negatively impact your score from 7 to 10 years. Our Team of skilled credit cleaning technicians have a 46% deletion ratio of these items in the first 45 days enrolled in our program.
Amounts owed
Maxing out your credit and making minimum payments impacts your credit score almost as much as negative items. Always try to keep your credit balances below 30%. Our advisors will set you up with the proper budget plan to help you save money and pay down your debts. (Budgeting service is included with enrollment)
Length of credit history makes up 15% of your total score.
Short history is looked at as a credit risk because there's no proven record. There is no reason to ever close any account because the longer the account is open the more it helps increase your score.
Types of credit
Having different kinds of accounts is favorable because it shows that you have experience managing a mix of credit. This isn’t a significant factor in your credit score unless you don’t have much other information on which to base your score. Open new accounts as you need them, not to simply have what seems like a better mix of credit.
New credit
- Number of recently opened accounts, and proportion of accounts that are recently opened, by type of account
- Number of recent credit inquiries
- Time since recent account opening(s), by type of account
- Time since credit inquiry(s)
- Re-establishment of positive credit history following past payment problems
How do negative items hurt your credit score?
These numbers show how negative items can lower your score: |
