Free credit report report Helena

Keep in mind that for most lenders, your credit score is only one aspect, albeit an important one, of your overall credit worthiness, meaning the creditors view of your ability to repay a loan. Your income, for example, is not considered in the calculation of your FICO score, but most lenders will ask you what you earn to analyze your ability to repay the loan. Even if you have an 800 FICO score, if your income is only $10,000/year, a lender will probably not loan you a large sum of money, because despite your past credit habits as measured by your FICO score, the lender can see that you probably cannot afford to repay the loan.

If you would like to learn more about credit reports, credit scoring, and what it means to you, I encourage you to explore the wealth of material offered by Bills.com.

Best, Bill www.bills.com First, it is important to understand how your credit score is calculated. free credit report website I will discuss credit score calculations in general, and then address your question. Your credit rating is calculated based on several variables, including: 1) Payment history, which counts free credit report report Helena for approximately 35% of your score, is the most heavily weighted factor used in calculating your credit score. Consistently paying your bills free credit report report Helena on time has a positive influence on your free credit report report Helena score, while late or missed payments will hurt you in this area.

If you have delinquent payments, the older the delinquency the free credit report report Helena less the negative impact on your score will be. instant credit report Collection accounts and bankruptcy filings are also taken into consideration when analyzing your payment free credit report report Helena history. 2) Total debt and total available credit, which counts for about 30%. This section looks at how much debt you have compared to the total available credit on your accounts. If all of your accounts are maxed out, free credit report report Helena you will be considered a poor credit risk, because it appears that you are struggling to pay off the debt you have already incurred. If your account balances are relatively low compared to your available credit, this part of the risk analysis should help your overall credit score.

The score calculation also looks at these two factors independently. Having too much available credit, whether you have used it or not, could hurt your credit score, free credit report report Helena as statistical studies have shown that people with excessive amounts of available credit are a higher credit risk. free company credit report Unfortunately, the bureaus do not define exactly what they consider excessive, so best tip is to use credit conservatively and to keep your debt to credit limit ratio low.

3) Length of positive credit history, which counts for about 15%.