What is Credit Score? Practical Tips to Improve Credit ScorePosted by Buena Credito on September 15th, 2022 While many factors affect your credit score, here are the three most important ones - Payment History: This is the amount you owe in debt as a percentage of your total available credit. Most people's scores are based on how much debt they have and how long it took them to pay it off. The lower your percentage, the higher your score. - Credit Utilization: Next is credit utilization. It refers to how much credit you are using each month — so if you're using ,000 worth of credit per month but only have ,000 available, then your utilization rate is 100%. - Amount Owed: This is simply how much money you owe compared to how much lenders consider you can afford to borrow at any given time. This number matters because it affects both how high-interest rates will be and whether or not lenders will approve future loans for borrowers with bad credit histories. Your financial situation can be challenging to understand if you have bad credit. You might not understand how your bills report to the three credit bureaus or why managing your funds is essential. If you want to upgrade your credit score, we have gathered tried & tested tips on how to improve and recover your credit score for you to consider. Robust Tips to Improve Credit Score
Bottom LineHaving a decent credit score has a lot of perks & advantages. For example, it enables you to avail of additional offers, discounts, etc., on hotel bookings, flight bookings, etc. Buena Credito is a leading credit repair company in the USA. It offers top-notch credit repair services at the most competitive prices in the market. To know more about Buena Credito, visit www.buena-credito.com. Visit NOW! Like it? Share it!More by this author |