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5 Factors That Decide Your Credit Score


Scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score:

  • Your Payment History.  Whether you paid credit card obligations on time.

  • How Much You Owe.  Owing a great deal of money on numerous accounts can indicate that you are overextended.

  • The Length of Your Credit History.  In general, the longer the better.

  • How Much New Credit You Have.  New credit, either installment payments or new credit cards, are considered more risky, even if you pay promptly.

  • The Types of Credit You Use.  Generally, it’s desirable to have more than one type of credit—installment loans, credit cards, and a mortgage, for example.

For more on evaluating and understanding your credit score, go to

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