Credit ScoreEducation
Master your credit score and unlock better loan rates. Learn what matters and how to improve.
Understanding Credit Score Ranges
What Affects Your Credit Score?
Payment History
35%Whether you pay bills on time
Credit Utilization
30%How much credit you're using
Length of Credit History
15%Age of your accounts
Credit Mix
10%Variety of credit types
New Credit
10%Recent credit inquiries
How to Improve Your Credit Score
Follow these proven strategies to boost your credit score over time.
Pay Bills On Time
Set up automatic payments or reminders. Even one late payment can significantly hurt your score.
Keep Credit Utilization Below 30%
Use less than 30% of your available credit. Lower is better - aim for under 10% if possible.
Don't Close Old Accounts
Keep older credit cards open even if you don't use them. Length of credit history matters.
Limit New Credit Applications
Each hard inquiry can lower your score. Space out applications and only apply when necessary.
Dispute Errors on Your Report
Check your credit reports regularly and dispute any inaccuracies you find.
Diversify Your Credit Mix
Having different types of credit (cards, loans, mortgage) can help, but don't open accounts just for this.
Credit Score Myths vs. Facts
Checking your credit score hurts it
Checking your own credit is a soft inquiry and doesn't affect your score. Only hard inquiries from lenders impact it.
You only have one credit score
You have multiple credit scores from different bureaus (Experian, Equifax, TransUnion) and different scoring models.
Closing cards improves your score
Closing cards can actually hurt your score by reducing available credit and shortening credit history.
Income affects your credit score
Your income isn't part of your credit score calculation, though lenders do consider it separately.
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