There are many contributing factors to your credit score. To gain the score you need to achieve your credit goal you must have these 5 key Contributors factors.

 1.  Your Payment History: 35% Your record of bill paying says a lot about how responsible you are 

with your credit. When it comes to negative marks like late payments, the score focuses on 3 factors.

• Delinquency: Late Payments. New late payments hurt more than older late payments. Time Heals!!!
• Frequency: How many late payments? Someone with 1 late payment looks better than 8 late payments.
• Severity: How late are you? Having a 30 day late is not as serious as a 60-120 day late payment. Collections, tax liens, and bankruptcies are very damaging to credit overall picture and scores.

 2.  How Much You Owe: 30% You should always keep your credit card balances below 30%. 

Once you have gone over that amount you will start to see your credit score drop. The larger available   credit you have is better. Ex. $1500 balance/$5000 limit=30%. Sometimes it is good to take the credit increase when offered.

 3.  How Long You Have Had Credit: 15% This is not as important as the 2 other factors, but it matters. You can still have a good score with short history, but the longer you have credit, the better.

The score considers:  

• The age of the oldest account
• The average age of all your accounts

 4. Your Last Application For Credit: 10% Applying or Opening new accounts can ding your credit score, particularly if you apply for lots of credit in a short period of time.

• Consider how many accounts you have applied for recently.
• Consider how many new accounts you have opened.
• Consider how much time has passed since you applied for credit. 
• Consider how much time has passed since you opened an account.

 5. Types Of Credit You Use: 10% You must have a healthy mix of credit, but what does that mean? FICO recommends you have a balance of both revolving debts like credit cards and installment loans like auto or mortgage loans. You must have credit to gain more credit.

Important TIP:

 Review your credit report and see what you need to work on to reach the healthy credit overall picture. You can obtain a free credit report at www.annualcreditreport.com for your review. It is important to review your credit report at least once a year for any errors.

Buying a Home?





We know that buying a home can be a serious time in your life. During the process you may find out your credit is facing some challenges and that can delay your process. Don't give up!!! Let us take the worry out of your process of buying a home and getting your credit back on track. We may even save you money with a better rate. We will work closely with your realtor and get the job done.

Buying a Car? 

Are you looking to buy a car? Let us help you save money and not put a large payment down or have a high interest rate.  We will teach you how to save money with healthy credit before you buy a used car.

Identity Theft?

Many people fight identity theft every day. You can fight it by knowing what is reporting on your credit report. Request a credit report today and fight for your rights. If you need help call us today. Your Identity is everything!!!

Come see us and let us help you get back on track. "Better Credit, Better Life"