Credit Score Sample #credit #card #report

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Background

Your credit scores are based on the information in your credit bureau reports. Although there are a number of different credit scoring models with different ranges of scores, in general higher scores are better, because they increase your chances of getting the loans you want.

Credit Analysis

Both negative and positive factors influence your credit score. The most important factors of each are listed below, in their order of importance. Remember, these factors vary in how strongly they impact your credit score. For example, if you have a very high credit score, the negative factors in your analysis are likely to have a small impact. The same is true for positive factors if you have a very low credit score. Additional details are provided for some factors to help you better understand how they relate to your credit accounts.

Positive factors influence your credit score. The most important factors are listed below, in their order of importance. Remember, these factors vary in how strongly they impact your credit score.

Additional details are provided for some factors to help you better understand how they relate to your credit accounts.

Here are the top factors that make your score higher:

1. Payment history

Last reported month, you paid 100% of your accounts on time. Lost or stolen, transferred, or sold accounts may be excluded from this factor.

This is making your score higher. Missing payments is a negative factor. Some cases are worse than others. If you have not missed any payment recently, lenders may think you are, or have become, responsible and do not, or will no longer, miss payments. Lenders realize that many people occasionally miss a payment or pay late. Therefore, missing payments on one account may not be as harmful as missing payments on many. Similarly, missing a single payment may not be as harmful as missing several consecutive payments. Note that many lenders consider missing 3 or more consecutive payments to be an indication that you may never repay them. Finally, it may not be as harmful to miss payments on accounts with low balances as it is on accounts with high balances, because lenders stand to lose less money if they remain unpaid.

2. Credit accounts

You have 10 revolving account(s) listed in your credit report. Lost or stolen, transferred, or sold accounts may be excluded from this factor.

This is making your score higher. Having accounts listed in your credit reports is a positive factor because the accounts’ payment history shows lenders how you pay your bills. However, having too many accounts may be considered a negative factor because lenders worry that you are spending (or preparing to spend) beyond your means, even if you have never missed payments. Also, if you do not currently have credit, getting your first few credit cards may be difficult and may involve high fees, high interest rates, and low credit limits. Note that finance trades (such as debt consolidation accounts) are often associated with troubled credit, and may therefore be considered a negative factor.

Here is an example of a list of all the credit records used to calculate this factor.





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