Having a low or bad credit score can be frustrating, but what is the reason for a low credit score? Its important to know what is affecting your credit score to improve it.


Missing payments or late payments can have a huge impact on your credit score. Payment history makes up 30% of your credit score, but what is considered a late payment? A late payment won’t be reported unless it is 30 days late. Stay consistent with your payments to improve or maintain your credit score.


High debt is another reason your credit score might be low, whether its loans or credit cards. Revolving credit or credit cards are a huge factor with credit, but its important to know how to use credit cards. Credit utilization is the amount of credit you are using on revolving accounts, it is recommended to only use 10% of your credit limit for little impact on your credit score, and if you are trying to improve your score this will give it some boost. Loans that are closer to being paid off have a more positive affect then a loan you just took out, so just keep that in mind when you are taking out a loan.


Just like loans and Credit cards can affect your credit having no credit history can also be affecting your credit score negatively. Credit cards are the quickest way to start building credit, stay consistent with your payments and maintain the debt on your credit card 10% or lower. If you can make more than what is required of for the monthly payment. Your Credit score can be something that makes life more difficult or can make your life easier.


A Goal without a Plan is just a Wish. Give us a call TODAY at 844-FIX-URCR or click on the following link creditservicesofamerica.com to schedule your FREE consultation and create your personalize plan to achieve your credit and debt GOALS!