A credit report Tulsa

Your income, for example, is not considered in the calculation a credit report Tulsa 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 a credit report Tulsa material offered by Bills.com. Best, Bill a credit report Tulsa www.bills.com First, it is important to understand how your credit score is calculated. free credit report from all 3 bureaus

I will discuss credit score calculations in general, and then address your question. Your credit rating is calculated based on several variables, a credit report Tulsa including: 1) Payment history, which counts for approximately 35% of your score, is the most heavily weighted factor used in calculating your a credit report Tulsa credit score. Consistently paying your bills on time has a positive influence on your score, while late or missed payments will hurt a credit report Tulsa you in this area. credit agencies If you have delinquent payments, the older the delinquency the less the negative impact on your score will be. Collection accounts and bankruptcy filings are a credit report Tulsa also taken into consideration when analyzing your payment 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 a credit report Tulsa total available credit on your accounts.

If all of your accounts are maxed out, 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 a credit report Tulsa low compared to your a credit report Tulsa available credit, this part of the risk analysis should help your overall credit score. credit monitoring The score calculation also looks at these two a credit report Tulsa factors independently. Having too much available credit, whether you have used it or not, could hurt your credit score, as statistical studies have shown that people with excessive amounts of available credit are a higher credit risk.