These percentages are based on the importance of the five categories for the general population. For particular groups – for example, people who have not been using credit long – the importance of these categories may be somewhat different. Payment History Account payment information on specific types of accounts (credit cards, retail accounts, installment loans, […]
In a perfect world, it would be really nice if we can purchase everything in cash but for most of us this is not the case. We have to borrow money to buy big ticket items such as cars and houses. When borrowing money, creditors look at your FICO score. Discusses how your FICO Score affects what you can purchase and for how much.
Your FICO score is one of the most important thing to protect in your life because of how it would affect the “cost of borrowing” money or interest rates. The higher your score the more purchasing power you would have especially when you’re buying a house or a car. Find out the things to avoid in order to protect your FICO score.