05/05/2020
CREDIT TIP OF THE DAY‼️ This is how your FICO score is calculated. The biggest portion of your score is your payment history which is 35%!! If you’ve been late and monitored your credit you know it hurts your scores tremendously! Next is your utilization/amounts owed. You can have excellent payment history but all of your credit cards maxed out will possibly have you with a bad credit score. Length of history is only 15% which is essential when trying to move up into the high 700’s for a close to perfect score. Last you have new credit and different types of credit make up 20%!! Ever wonder why you have decent credit but can’t get a good interest rate on a car? Well if you’ve never purchased one that hurts your chances of getting prime rate if it’s based on your history!!