Credit Score-Free Credit Score

Sarah K:

35% – how well you pay your bills
* start paying on time.
* a single incident five months ago still counts… a single incident five years ago no longer matters
* a pattern of late payments could lower your score 50 or 60 points

30% – “balance and burden” (how much credit you have available to you and how much of that credit you’re using.
* you’re in the best shape if you’re using 20 to 30 percent of the credit available to you
* do NOT cancel and cut up your credit cards…
* do not cancel cards right before applying for a mortgage, auto loan, or other big loan. instead, lock your cards away where you won’t be tempted to touch them
* don’t worry that paying of your balances every month is a bad thing — it isn’t. by the time you receive your bill, write your check and mail it in, and it’s cashed, posted and reported to the credit bureaus, you’ve already gotten the bill for the next month… in other words, if you’re making frequent use of your card, you never show a zero balance to the bureaus

10% – search for new credit
* when searching for the best deal on a mortgage or auto loan, it wouldn’t be unusual for 10 or 15 different credit institutions to check a credit score
* auto- or mortgage-related inquiries (resulting in a score being pulled by the auto or mortgage lender) that occur within 14 days of each other simply says to the credit bureau that you’re shopping for a car or a house, and they’re counted as one inquiry
* any inquiries older than 12 months don’t count at all
* a single application for a single card isn’t a sign of trouble, but multiple card inquiries are a sign that you need money
* multiple inquiries, particularly if you’ve had credit for only a few years, can mean a loss of 50 to 100 points on your score
* if a salesclerk suggests you sign up for a store credit card for a discount, don’t do it… some clerks will advise you to simply close the account if you don’t want it after you get home. Closing the account, however, won’t stop the inquiry from damaging your credit rating.
* save the 10% off offer for when you’re buying a $2,700 couch, not a $27 handbag

10% – financial composition of your file
* what percentage is bank-card debt and what percentage is installment debt?
* the ratio of 60-70% bank-card debt to 30-40% installment debt is ideal rather than too much of one or the other
* this is the hardest element to control and represents a relatively small portion of your score

15% – length of credit relationships
* if and when you decide to cancel your credit cards, try not to cancel the ones you’ve had the longest
* it’s a good idea to have at least one card in your wallet that’s more than 2 years old
* once you’ve had a card for 15 to 20 years, it won’t send your score any higher

twohitsmf:

check out the sites below then u will know all plus with credit cards they check if your above half of your credit