Think of your credit score as a percentage that is 100%. That 100% is broken down into 5 pieces of credit data:
35% is Payment History
30% is Amounts Owed
15% is Length of Credit History
10% is New Credit
10% is Mix of Credit Types
Everyone’s score is broken down into these five categories but the importance of each category depends on that individual’s credit report. As a person’s credit report changes so does the importance of each category.
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The FICO score does not use your income or job history to calculate your score. It only considers the information in your credit report. This keeps credit scoring fair, and lets lenders decide how to use that other information to determine if they will extend you credit.
Contact:
Clean Slate Credit LLC
Owner-Will Frazier
334-430-5296
www.cleanslatecredit4u.com
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