Hello and welcome! My name is Maxwell Roberts. As a member of the financial service industry for many years, I thought I could offer some free help and advice for those who want to know what factors play into their credit score and how they can improve their overall credit rating.
We won’t be getting into immense detail in this first post. This is mostly just to say hello and welcome! However, before we eventually get into the ‘more advanced stuff’, let’s take a quick overview/recap of what factors influence your credit score:
-Your payment history, i.e. how often and for how long you’ve paid your credit card bills and loan payments on time.
-How high your balances which you have charged are, and how much “open credit” you have left in comparison
-The age of your credit history, i.e. the average length of time that your credit accounts have been open
-Diversity of the types of loans you have
-Recent inquiries or attempts to open new credit accounts
There are many other factors which also play into the overall algorithm, but usually by focusing on these factors you will go a long way towards achieving a healthy credit score.
Until next time!
Credit Score Tips and Advice 