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Understanding Credit Scores
Your credit score and history is a direct reflection of your past credit worthiness and patterns. The last two years are the most important when lenders are looking at your credit history, basically the older credit doesn’t matter as much.
Here are 5 categories that will most likely drop your credit score;
Your Payment History
Your Current Account Balances
The Length of Your Credit
The Type of Credit You have
Any Hard Inquiries Made Against Your Credit
Rebuilding Your Credit
Catch up on any and all of your late payments and continue to keep those accounts current for 6 to 8 months. Credit building can feel like a very long process, but in just 1 year you can make a significant amount of difference to your score.
If you feel like you have too much debt, try contacting a debt consolidator and talking with them about your options.
2. Understanding
Credit Scores
Your credit score and history is a direct
reflection of your past credit worthiness
and patterns. The last two years are the
most important when lenders are looking
at your credit history, basically the older
credit doesn’t matter as much.
VASTREAMLINEREFINANCE.COM
LENDER HOTLINE: 888-581-5008
3. HERE ARE 5 CATEGORIES THAT WILL
MOST LIKELY DROP YOUR CREDIT SCORE;
Your Current
Account Balances
Any Hard Inquiries Made
Against Your Credit
The Type of
Credit You have
Your Payment
History
The Length of
Your Credit
VASTREAMLINEREFINANCE.COM
LENDER HOTLINE: 888-581-5008
4. Rebuilding
Your Credit
Catch up on any and all of your late
payments and continue to keep those
accounts current for 6 to 8 months. Credit
building can feel like a very long process,
but in just 1 year you can make a significant
amount of difference to your score.
VASTREAMLINEREFINANCE.COM
LENDER HOTLINE: 888-581-5008
5. If you feel like you
have too much debt,
try contacting a
debt consolidator
and talking with
them about your
options.
VASTREAMLINEREFINANCE.COM
LENDER HOTLINE: 888-581-5008
6. T O L E A R N M O R E
VASTREAMLINEREFINANCE.COM
LENDER HOTLINE: 888-581-5008
C L IC K HE R E
VASTREAMLINEREFINANCE.COM
LENDER HOTLINE: 888-581-5008
7. Justin McHood is Americas Mortgage
Commentator and has been providing
Mortgage commentary for over 10 years.
INFORMATION PROVIDED BY:
Justin McHood
MORTGAGE COMMENTATOR
VASTREAMLINEREFINANCE.COM
LENDER HOTLINE: 888-581-5008
8. LEARN MORE ABOUT MORTGAGE COMMENTATOR:
MORTGAGECOMMENTATOR.COM
FACEBOOK.COM/MORTGAGECOMMENTATOR
@MORTGAGECOM_
LENDER HOTLINE: 888-581-5008
VASTREAMLINEREFINANCE.COM
LENDER HOTLINE: 888-581-5008