Know the truths FICO scores

Fair Isaac and company (FICO)-Resultate are credit reporting agencies use to determine your creditworthiness. MyFICO.com during each organization reports formats and reports your information differently the basic information is the same. You get a free credit report once every 12 months you from each of the three major credit reporting agencies - TransUnion, Experian and Equifax questions. Before you request your report, learn how to make sense it.Difficulty: moderately EasyInstructions1Know FICO area. It is from 350 to 850. the number is high to get, your skill, a good interest rate and credit. To improve your score, your bills pay on time, keep your low balances and apply only to new credit if necessary. If you have bad credit to your credit card with the opening of new accounts history and pay you on time. 2Learn restore four categories of your credit report. "Identifying information" is your name, address, social security, information date and the use of birth number. (Not your credit score affect this information.) "Lines of Business" are your credit accounts. Their lenders report, credit agencies, the type of accounts, you have the date you open your limit or loan your balance and your payment history. "Investigation of the credit" is when you apply for credit. This section is a list of all those who accessed your record the credit during the past two years. "Public record and items in the collection" comes from records of the Court of Justice on the outstanding debt, bankruptcy, seizures, persecution, salary, privileges and the five categories FICO formula used to your score judgments. finding 3Know installations. "Payment history" is most imtragende section your accounts for 35% of your score andCredit rating. This section enables the lender know whether refund the money you in time to borrow, you are always at the end or if you completely skip payments. "Amount" represents 30% of your score. This renseignements.est how much you need money, many different accounts and you or not contributed. "Length of credit history" is 15% of your score and indicates how long you have accounts. "New credit" is 10 percent. Here the issuer can open credit which see new loan. Even 10 percent are "Types of credit used" and indicate what type of loan do you have like credit cards, loan payment or a mortgage. 4Understand the importance of credit requests. Whenever you apply for credit, it an investigation for the credit bureaus. Surveys make your score are your applications for new credit. Conversion rate for a single loan count against you, opening many new accounts in a short time.