My credit score Marquette

2) Total debt and total available credit, which counts for about 30%. This section looks at how much debt you have compared to the total available credit on your accounts.

If all of your accounts are maxed out, you will be considered a poor credit risk, because it appears that you are struggling to pay off the debt you have already incurred. If your account balances are relatively low compared to your available credit, this part of the risk analysis should help your overall credit score.

The score calculation also looks at these two factors independently. Having too much available credit, whether you have used it or not, could hurt your credit score, as statistical studies have shown that people with excessive amounts of available credit are a higher credit risk. Unfortunately, the bureaus do not define exactly what they consider excessive, so best tip is to use credit conservatively and to keep your debt to my credit score Marquette credit limit ratio low. free online credit report canada 3) my credit score Marquette Length of positive credit history, which counts for about 15%. The longer you maintain accounts in good standing, the better your score will be. This shows that you are able to make a long-term commitment to a creditor and are consistently responsible about making my credit score Marquette your payments. 4) Mix of types of credit, which counts for approximately 10%. Having several different types of credit, such a credit cards, consumer loans, and secured debt, will have a positive influence on your credit score.

Having too much of one type of credit can have a negative impact. credit scoring 5) Number of new credit applications you completed recently, which accounts for about 10% of your score. Applying for my credit score Marquette too much new credit in a short time period makes my credit score Marquette indicates that you could be my credit score Marquette credit risk, as you may be desperately trying to keep your head above water. The my credit score Marquette models make an exception my credit score Marquette for people who are shopping around for a loan, so if you are simply applying to see who can give you the best rate on a new loan, you need my credit score Marquette not worry too much about damaging your credit score.

my credit score Marquette Your Question

As you can see that total debt in comparison to the total credit available has a weight of about 30% on your overall score. As you intend to use only a portion my credit score Marquette of the total available credit, it should not influence your my credit score Marquette score to that great an extent. how to get a free credit report and score

Although you cannot realistically calculate your own credit score, you can review your credit report for on the five factors I named above to get an idea of whether the accounts listed on your credit report are hurting or helping your credit score.

You can then take action to improve any potential problems, such as paying down your balances or paying off collection items. Also, factors such as age, sex, income, and length of employment, have no direct affect on your credit score, and are not considered when the bureaus calculate your score.