|
Your credit score is based on several different aspects of your credit report. However, some aspects are more important than others and will contribute more to your overall credit score. Your credit score is composed of the following factors:
Payment History – 35%
Total Amounts Owed – 30%
Length of Credit History – 15%
New Credit – 10%
Type of Credit in Use – 10%
The largest part of your credit score comes from your payment history and how much outstanding debt you owe. These two items alone account for 65% of your credit score. So, if you want to improve your credit score, you should start with improving your payment history (e.g., no late payments) and reducing the amount of debt you owe and then work on the other three factors.
If you are having problems with debt collectors or you want to remove errors from your credit report, then request a FREE copy of our Consumer Rights E-Book and Newsletter and discover:
-
17 ways debt collectors violate your rights
-
Where to file complaints against business you regularly use
-
How to dispute incorrect information on your credit report
Enter your information below to request your FREE copy.
We respect your email privacy. Your email address will never be sold or given away.
Phone: 888-495-7289 * Fax: 888-559-8856
Serving your interests in Maryland and Washington, DC, including Rockville, Gaithersburg, Potomac, Bethesda, Chevy Chase, Columbia, Camp Springs, Fort Washington, Upper Marlboro, Bowie, Forestville, Prince Frederick, Waldorf, Largo, Temple Hills, Greenbelt, College Park; and in Montgomery County, Baltimore County, Baltimore City, Howard County, Prince Georges County and Anne Arundel County.
If you have questions or comments, you are welcome to contact us at info@kinseylawgroup.com
or
888-495-7289.
This article is provided as an educational service by Kinsey Law Group, P.C. and is not intended to, and nor does it, constitute legal advice. The use of this site does not create an attorney-client relationship. The Kinsey Law Group cannot guarantee that the information on or linked to the website is correct, complete, or current. Contacting the Kinsey Law Group does not create an attorney-client relationship. Do not transmit time-sensitive or urgent information through e-mail or the law firm's website.
Copyright © 2009. All rights reserved.
|
Phone: 888-495-7289 Fax: 888-559-8856