How Do They Compute Your Credit Score?

By
Mortgage and Lending with The Federal Savings Bank/Lending in 50 states NMLS # 109616

Your credit scores is compiled based on your history in five areas.  It can vary from day to day based on your actions or lack of actions.  The categories measured and the percentage of your score that they make up are as follows:  Past Delinquincies 35%, Debt Ratio 30%, Average Age of File 15%, Mix of Credit 10% and Number of Inquiries 10%.  One little known fact is that you are rewarded for your restraint.  As a result, you should have the highest possible credit limit on each of your cards and the lowest possible balances.  Balances as low as 10% of your high limit may have a negative effect on your score.

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