Credit Utilization. How much of your revolving credit (credit cards, lines of credit, etc.) are used. Maxing out your credit cards looks bad on this part of your report. Age of Credit History. How long each of your accounts have been open. A long credit history means a lower-risk borrower, because the lender has more data from which to evaluate their financial behavior. Number of Accounts. More accounts are seen as an indication of a reliable borrower — as long as the borrower has paid their bills on time. Hard Inquiries. More hard inquiries, or “hard pulls,” are seen as a red flag, since the borrower may be on the verge of taking on more debt than they can handle. What Is A Credit Score? Several companies evaluate borrower's full credit report and boil it down to a single number, called a credit score, an at-a-glance evaluation of that borrower’s creditworthiness. The most famous credit score is kept by Fair Isaac & Co (FICO).
Types of credit used
Length of credit history
RITA REALTOR | BROKERAGE 904-555-5555 | Rita@realtor.com | www.Authorify.com
LARRY LOAN OFFICER | OFFICE 904-555-1010 | Larry@loans.com | www.Authorify.com
Powered by FlippingBook