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
 
Michael P Burger CPA
(760) 326-4386
121 F St #1
Needles, CA
 
Hoffelt & Co
(916) 921-2600
1545 River Park Dr #205
Sacramento, CA
 
Ritter & Associates
(909) 676-7316
28936 Front St #205
Temecula, CA
 
Arthur Birnbaum CPA
(619) 563-9703
3333 Camino Del Rio S #235
San Diego, CA
 
Gomez Bookkeeping & Income Tax
(559) 945-9201
P.O. Box 249
Huron, CA
 
Business Resource Group
(909) 699-8504
41707 Winchester Rd #205
Temecula, CA
 
Bianchi Bookkeeping
(760) 356-4589
437 W 5th St
Holtville, CA
 
Trimble & Company
(951) 781-2910
5041 La Mart Drive
Riverside, CA
 
Del Conte & Associates
(858) 653-5999
9820 Willow Creek Rd #240
San Diego, 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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