How to Improve Your Credit Score Before Applying for a Loan

How to Improve Your Credit Score Before Applying for a Loan It also includes public records such as bankruptcies, foreclosures, suits, liens and judgments. The credit scoring system used by most lenders is FICO, The most important factor in determining your credit score is payment history, which reflects whether you've paid your bills on time. The amount of debt owed compared to your total credit limit is another important consideration. Experts suggest keeping your credit utilization to no more than 30 percent of your credit limits. The length of your credit history and the mix of types of accounts also affects your credit score.
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