06/04/2022
It can get frustrating, but here is the takeaway. Credit restoration is a JOINT effort. When a new account is added to your report, it decreases your credit age and increases your utilization, especially if the credit limit is maximized and increases your amount of debt. Put that all together, and it may delay your end goal because it all depends on how you manage and utilize your debt.
1. Amounts Owed: 30 %
2. New Credit: 10 %
3. Length of Credit History: 15 %
= 55%
Now, 55 percent of your credit score factor MAY be impacted. So, communication is essential because if we can help you reach your credit goals faster, that is better for you. 😍😊🎉💯
Tagged anyone that can benefit from these tips.