What almost nobody knows about credit scores.

Mortgage and Lending with Dan Dowling - United Mortgage Capital Corp.


Let's dispell a credit myth. How important do you suppose paying your bills on time really is to your credit? 

Most people are suprised to learn that paying your bills on time is only 35% of your total score. This means that 65% of your score is determined by other factors.

Failing to understand those other areas can be poison to your credit score -- making every thing you finance or insure unfairly expensive.

The lesson here is that if you know and understand how the other factors work, you force huge changes to a credit score.

More to come... 

All the best,

Dan Dowling
author of "Unlocking The Secrets Of Your Credit Score" c 2005
Phone: 407 681-4288

Comments (5)

Spokane Home Loans Spokane Mortgage
Spokane Mortgage - Spokane, WA
Yes, most people have no Idea about scores and what it takes to change them. I have helped people raise there scores a hundred points in six months by paying off a 1000 credit card that was maxed and opening a new secured 1000 credit card. (in a addition to paying there mortgage on time :)
May 30, 2007 12:41 PM
Kate Stenson-Lunt
Nuances Home Staging Company - Falmouth, MA
Eastern MA Home Staging
Dan - thanks for the insight
May 30, 2007 12:44 PM
Dave Cheatham
INC Financial - Bartlett, IL

Dan, you are right.  I do however see that when they do not pay on time there are normally other issues at hand to that lower the score.  Most likely is the high debt to limit ratio.


Thanks you for sharing this with us.

May 30, 2007 01:12 PM
Jeff Schraeder
Southwest Funding - Dallas, TX
I just helped a women raise her score 35 points in 30 days. Now she is able to get 95% instead of 90% and a better rate. You just have to know what to look for. Thanks,
May 30, 2007 01:14 PM
Laurie Mindnich
Centennial, CO
This is great information-- thanks!
May 30, 2007 01:17 PM

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