Quick guide on important factors that affect our Credit Score
Your credit score is a three-digit number that represents your creditworthiness to lenders. It is used by financial institutions, landlords, and even employers to determine your eligibility for easy loans , credit cards, and even rental properties. A good credit score can open doors to better interest rates and more favorable loan terms, while a poor credit score can make it difficult to secure credit and can lead to higher interest rates and fees. There are several factors that can affect your credit score, and it's important to understand them in order to maintain a good credit score. Here are some of the most important factors that can affect your credit score: Payment history : One of the most important factors that affects your credit score is your payment history. This includes whether you have made your payments on time and whether you have any outstanding collections or judgments. Late payments and missed payments can have a negative impact on your credit score, while a h...