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How Is My Credit Score Calculated?  Here are its four major components. 

Be sure to check out the video below.

Your payment history

The timeliness of your payments makes up to 65% of your FICO score. Always pay your bills on time to give yourself the best shot at a great score.

Your credit utilization

Credit agencies look at how much of your available credit you are using. A large amount of open credit is not always considered a good thing.

The age of your credit

How long have your credit cards been open? Lenders want to see a long and active history of credit cards and on-time payments.

The kinds of credit you have

A variety of credit indicates that you are an attractive borrower. Achieving and keeping a strong credit score can make a big difference in your financial life.

If you’d like to learn more about building or repairing credit, we’d love to help you! Give us a call at 404-978-0080 or reach out to one of our knowledgeable Certified Credit Union Financial Counselors (the service is free for members!)