What else is there to love about credit? How about credit history. It might go without saying that the longer an account is open the more it helps. Your credit history is 15% of your credit score and it is an average of your open and active accounts both installment and revolving.
Does this mean that the beginning of the year is the best time to start fixing your credit? The truth is the best time to start rebuilding your credit as soon as you are able.
What is credit card utilization and how can it impact your credit score? Your revolving accounts make up 30% of your credit score in the mortgage FICO credit scoring model. That is almost one third of your score.
The traditional ways to build credit has always been to open credit cards and/or open installment loans. These can still be great options in terms of building credit. However, what about the other items you are paying money every month…
From home loans, to auto loans to bank loans, FICO is used in 90% of all lending decisions; however many consumers are viewing their credit scores from a VantageScore. According to US News, VantageScore was designed to provide a consistent credit…
For Immediate Release Contact: Chris Busch President, Elevate My Scores Phone: (281) 612 – 1281 Email: chris@elevatemyscores.com CREDIT 101 CLASS CHOSEN FOR ABoR ACADEMY AUSTIN REALTORS WILL HAVE ACCESS TO CREDIT EDUCATION [AUSTIN,TEXAS – October 10, 2018] Busch Consulting Services, Inc dba Elevatemyscores.com,…
Change in Public Records Reporting What is a Public Record? Tax Liens, Judgments and Bankruptcies are credit items that are on file with the government. These can report on the credit report and have a severe detrimental impact to…
Detrimental Errors on your credit report FACT: 70% to 80% of consumer credit reports have errors. The FCC did a study and found that 7 out of 10 credit reports have some sort of detrimental error(s). In addition, a new…
Importance of Credit Cards If you do not own a credit card or revolving account, what you read below may be the most important thing you read to help raise your credit scores. We recommend that you have…
Credit Coaching Guide – Part 3 (What to avoid) When trying to improve your credit score or credit history, avoid any of the following: Asking a creditor to lower your credit limits. This will reduce that all-important gap between your…
