1. Range of Scores

   730 – 830 = A+ or Platinum
   680 – 729 = A
   640 – 679 = B
   600 – 639 = C
   550 – 599 = D
   549 & Below = E

2. What makes Up Your Credit Score?

   35% = based on payment history (i.e. on-time pays or delinquencies)

   - More weight on current pay history

   30% = Capacity (capacity is King)
   15% = Length of credit
   10% = Accumulation of debt in the last 12-18 months

   - # of inquiries
   - Opening dates

   10% = Mix of Credit
   

   - Installment (can raise) vs. revolving (can lower)
   - Finance company loans can lower your score.

3. What Actions Will Hurt Your Score?

   • Missing payments (Regardless of the $ amounts, it can take 24 months to restore credit with one late payment)
   • Credit cards at capacity (i.e. maxing out your credit cards)
   • Shopping for credit excessively
   • Opening up numerous trades in a short time frame
   • Having more revolving debts in relation to installment debts
   • Closing credit cards out (this could lower your available capacity)
   • Borrowing from finance companies

4. How Can You Improve Your Score?

   • Pay off or pay down your credit cards
   • Do not close credit cards because capacity may decrease
   • Move your revolving debt into installment debt
   • Continue to make payments on time (older late pays will be less significant with time)
   • Slow down on opening new accounts
   • Acquire a solid credit history with years of experience

For more information, call our credit experts today!