Factors That Affect Credit Score Coalinga CA

What are the factors used to calculate your credit score? Here are a few of the most important ones.

Scott & Co
(559) 935-2951
196 E Elm Ave
Coalinga, CA
 
Lee Brister CPA
(530) 675-2355
P.O. Box 420
Brownsville, CA
 
A C Accounting & Tax Preprtn
(805) 523-2815
2060 E Ave De Los Arboles #488
Thousand Oaks, CA
 
Gunn Accountants
(760) 747-4866
250 W Crest St #E
Escondido, CA
 
Associated Business Service
(562) 492-9660
4130 Atlantic Ave #111
Long Beach, CA
 
Gomez Bookkeeping & Income Tax
(559) 945-9201
P.O. Box 249
Huron, CA
 
Wittenberg & Wittenberg
(626) 337-0912
767 S Sunset Ave #6
West Covina, CA
 
Pappin & Pappin
(916) 925-8644
1851 Heritage Ln #149
Sacramento, CA
 
Hysell & Associates Inc
(530) 272-7339
605 S Auburn St #H
Grass Valley, CA
 
Junell A Mackey CPA
(626) 799-9821
1502 Huntington Dr
South Pasadena, CA
 

Factors That Affect Credit Score

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What are the factors used to calculate your credit score? Here are a few of the most important ones.

Credit History

Paying bills on time is generally the single most important contributor to a good credit score. Being late on any bill, for any length of time, is a possible indication of future non-payment of debt and is almost always viewed negatively by lenders. Having accounts that were sent to collection agencies is even worse, though nowhere near as bad as declaring bankruptcy. Paying your bills in a timely and consistent manner contributed to 35 percent of the score.

Outstanding Debt

Next most important was the amount of money you owe and the amount of available credit at your disposal. The assessment of outstanding debt fell into several categories, and included credit cards, car loans, mortgages, home equity lines, and so on. Also given consideration was the total amount of credit available. If a customer has 10 credit cards that each have $10,000 credit limits, that totals $100,000 of available credit. Generally speaking, people who have a lot of credit available tend to use it. This makes them a less attractive credit risk.

New Credit Applications

Careful study has shown that inquiries are an indicator of credit risk. Recent inquiries indicate a person may have outstanding accounts that are not yet part of the credit report. The more inquiries that appear on a borrower's credit file, the more likely a borrower may not be able to pay his or her bills as agreed....


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