CrediVibes

Did you know That your FICO score is grouped into five categories?

Payment History makes up 35% of your credit score. This shows whether you make payments on time, how often you miss payments, how many days past the due date you pay your bills, and how recently payments have been missed.

Amount owed makes up 30% of your score. High balances and maxed-out credit cards will lower your credit score, but smaller balances can raise it.

Length of your credit history accounts for 15% of your score. The longer your history of making timely payments, the higher your score will be.

Types of accounts you have make up 10% of your score. Having a mix of accounts, including installment loans, home loans, and retail and credit cards may improve your score.

New Credit makes up the final 10%. If you’ve opened a lot of accounts recently or applied to open accounts, it suggests potential financial trouble and can lower your score. However, if you’ve had the same loans or credit cards for a long time and pay them promptly – even after payment troubles – your score will go up over time.

Join the CrediVibe Movement! We let the results speak volume. Invest in yourself today.

Join the CrediVibes Movement! This client started in November and in less than 3 weeks their increased by 98 points.