Free credit report with no credit card Boise

I will discuss credit score calculations in general, and then address your question.

Your credit rating is calculated based on several variables, including: 1) Payment history, free credit report with no credit card Boise which counts for approximately 35% of your score, is the most heavily weighted factor used in calculating your credit score. Consistently paying your bills on time has a positive influence on your score, while late or missed payments will hurt you in this free credit report with no credit card Boise area. If you have delinquent payments, the older the delinquency the less the negative impact on your score will be. Collection accounts and bankruptcy filings are also taken into consideration when analyzing your payment history. 2) Total debt free credit report with no credit card Boise and total available credit, which counts for about 30%.

This section looks at how much debt you have compared to the total available credit on your accounts. If all of your accounts are maxed out, you will be considered a poor credit risk, because free credit report with no credit card Boise it appears that you are struggling to pay off the debt you have already incurred. getting credit report If your account balances are relatively free credit report with no credit card Boise low compared to your available credit, this part of the risk analysis should help your overall credit score.

The score calculation also looks at these two factors independently.

Having too much available credit, whether you have used it or not, could hurt your credit score, as statistical studies have shown that people with excessive amounts of available credit are a higher credit risk.

Unfortunately, the bureaus do not define exactly what they consider excessive, so best tip is to use credit conservatively and to keep your debt to credit limit ratio low. 3) Length of positive credit history, which counts for about 15%. The longer you maintain accounts in free credit report with no credit card Boise good standing, the better your score will be. free official credit report This shows that you are able to make free credit report with no credit card Boise a long-term commitment to a creditor and are consistently responsible about making your payments. 4) Mix of types of credit, which counts for approximately 10%. Having several different types of credit, such a credit cards, consumer loans, and secured debt, will have a positive free credit report with no credit card Boise influence on your credit score. Having too much of one type of credit can have a negative impact.

5) Number of new credit applications you completed recently, which accounts for about 10% free credit report with no credit card Boise of your score. Applying for too much new credit in a short time period makes indicates that you could be credit risk, as you may be desperately trying to keep your head above water. The models make an exception for people who are shopping around for a loan, so if you are simply applying to see who can give you the best rate on a new loan, you need not worry free credit report with no credit card Boise too much about damaging your credit score. As you can see that total debt in comparison to the total credit available has a weight of about 30% on your overall score. free score credit report As free credit report with no credit card Boise you intend to use only a portion of the total available credit, it should not influence your score to that great an extent.

Although you cannot realistically calculate your own credit score, you can review your credit report free credit report with no credit card Boise for on the five factors I named above to get an idea of whether the accounts listed on your credit report are hurting or helping your credit score.