At the lowest, your score can be 300, and at the highest, your score can be 850.
In between that, you have 550 points you need to fill to get to the perfect score.
To reach a perfect score, understanding where these 550 points are coming from is very important.
There are 5 categories that make up your credit report:
35% – Payment history;
30% – Utilization, which has something to do with how you manage your current line of credit;
15% History, which covers how long you’ve had credit;
10% Credit Mix, which considers how many revolving and installment accounts you have; and
10% Applying for new credit and inquiries
The most significant factor that can help your credit score is working on your payment history since this category covers a whopping 35% of your credit report.
If you have negative accounts and need help getting those items removed, register for free online training click here.