A good credit score is a foundation for building a solid financial future. A good credit score will help you get approved for loans and other forms of financing, as well as keeping your interest rates low on any loans or lines of credit that are in place. It will also impact your insurance premiums and other factors that can affect your day-to-day life.
What is the Average Credit Score?
The average American has a FICO Credit Score of 699 which in turn means they have an excellent credit rating! Consumers should always strive to maintain an excellent or good credit rating as this will lead them towards getting approved for loans, mortgages, car leases, etc.
What Affects a Credit Score?
A good credit score can make the difference between getting a great interest rate on your mortgage or being denied by a lender. If you're wondering what affects your credit score, here are some of the most important factors:
1) Payment history- The best way to improve your credit score is to always pay all bills on time. This includes utilities, phone bills, and car payments too!
2) Credit utilization ratio- Having high balances on your cards will have a negative impact on your credit score. It's better to use less than 30% of the available balance in order for it not to affect the FICO scoring model as much.
3) Length of credit history- A longer history means that you've had more time to
Why is Your Credit Score Low?
The Federal Trade Commission (FTC) has a lot of information on how to improve your credit score, including the first step: understanding what it takes to get a good credit score. In order to have an excellent credit score, you need at least five points in each category; payment history, debt or utilization ratio, length of credit history, and types of new credit. If anyone is below 6%, you won't be able to achieve the highest possible scores.
How to Improve Your Credit Score?
Credit repair is a tedious process that requires you to be diligent and patient. If you are looking for ways to improve your credit score, then this blog post will give you some of the best tips and advice on how to do so.
We'll start with the first point: Pay off any delinquent debts. If there are any accounts that have been delinquent, it's important to pay them off as soon as possible in order to avoid paying late fees or other penalties associated with those debts. The second tip we want to mention is not to use more than 10% of your available credit limit at one time (or 30% if you have excellent credit). This means if your available balance on one card is $10,000 and you purchase something for around $1000 then it will be around 10% of your total credit limit.
The credit repair ease is a one-stop solution for those that have had any type of negative experience with their credit score. They will take care of your credit card debt, student loans, and even provide you with tips on how to increase your income. credit repair ease is available in 51 states of the United States and committed to offering you the best credit repair service. Whether you live in Wyoming, California, Texas or New York, or any other state of United States, we help you from your location and you don't have to take much burden.
Just Call on (888) 803-7889 and repair your credit fast!
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