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How To Conquer Your Credit Score
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How To Conquer Your Credit Score

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Do you want to increase your credit score? Doing so is easier than you think. The key is to understand how it's calculated and then work backwards.

Do you want to increase your credit score? Doing so is easier than you think. The key is to understand how it's calculated and then work backwards.


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  • 1. HowtoCONQUERyour CREDIT SCORE
  • 2. A credit score is a nasty, brutish beast.
  • 3. But not only can it be beat…
  • 4. You can MAKE IT WORK for you.
  • 5. The key is to understand how credit scores are calculated.
  • 6. And that’s exactly what I’m about to explain…
  • 7. But before doing so, let’s cover a few PRELIMINARY MATTERS
  • 8. Your credit score is a number between 300 and 850.
  • 9. Its purpose is to gauge how likely it is that you’ll repay your debts.
  • 10. The higher the number, the more likely it is that you’ll do so. 800-850750-799700-749650-699600-649550-599500-549300-499 1%2%5% 15% 31% 51% 71% 87% DELINQUENCY RATE CREDIT SCORE Data source: FinanceandCareer.com
  • 11. So, what’s a GOOD SCORE?
  • 12. This is how it breaks down… Range Quality 720-850 Excellent 680-719 Good 620-679 Average 580-619 Poor 500-579 Bad 300-499 Miserable www.FreeScore.com
  • 13. Simple enough, right?
  • 14. So here’s the question:
  • 15. So here’s the question: What specific things can you do to increase your credit score?
  • 16. And the answer is:
  • 17. And the answer is: You have to fight fire with fire.
  • 18. You have to understand how your score is calculated in order to determine the best way to improve it.
  • 19. Take a look at this chart: Payment History 35% Amount of Money Owed 30% Length of Credit History 15% New Lines of Credit 10% Types of Credit Used 10% Data source: FreeScore.com
  • 20. Take a look at this chart: It shows the FIVE VARIABLES that credit agencies use to generate your score. Payment History 35% Amount of Money Owed 30% Length of Credit History 15% New Lines of Credit 10% Types of Credit Used 10% Data source: FreeScore.com
  • 21. Your payment history is the most important, with a weighting of: Payment History 35% 35% Data source: FreeScore.com
  • 22. This makes sense when you consider this chart from earlier. 800-850750-799700-749650-699600-649550-599500-549300-499 1%2%5% 15% 31% 51% 71% 87% DELINQUENCY RATE CREDIT SCORE Data source: FinanceandCareer.com
  • 23. Second is the amount of money you currently owe: Amount of Money Owed 30% 30% Data source: FreeScore.com
  • 24. This is why maxed out credit cards are so bad.
  • 25. The next most important is the length of your credit history: Length of Credit History 15% 15% Data source: FreeScore.com
  • 26. This is why older people generally have better credit scores than younger people. 630 629 630 647 670 18-24 25-34 35-44 45-54 55+AGE AVERAGE CREDIT SCORE Data source: CreditKarma.com
  • 27. In fourth place are any new lines of credit or recent inquires: New Lines of Credit 10% 10% Data source: FreeScore.com
  • 28. Finally, are the types of credit you have experience with: Types of Credit Used 10% 10% Data source: FreeScore.com
  • 29. The two main types include:
  • 30. The two main types include: 1.Revolving accounts • Like credit cards…
  • 31. The two main types include: 1.Revolving accounts • Like credit cards… 2.Installment lines of credit • Like mortgages and car loans…
  • 32. So, to tie everything back together into a pretty little package…
  • 33. If you want to improve your credit score…
  • 34. FIRST Identify which of the five variables are wanting in your case.
  • 35. SECOND Prioritize their importance based on the weighting.
  • 36. THIRD And then attack them one by one.
  • 37. While the process takes discipline and patience, it’ll be well worth it to conquer your credit score.
  • 38. For more valuable advice, click here to download a free report detailing Warren Buffett’s best-kept secrets.

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